The Jamaican Economy In The 1980s


Book Description

This book analyzes the main causes of deterioration in the Jamaican economy since 1972 and assesses the prospects for returning to a period of stable growth under an International Monetary Fund Stabilization program. Considering both the role of international economic conditions and domestic policies on Jamaica's economic decline, Dr. Looney compares the viability of the socialist model of development, implemented between 1972 and 1980, with that of the U.S.-sponsored supply side model. He raises important questions about the ability of small open economies to sustain acceptable rates of growth in the existing world economic environment, the effectiveness of IMF Stabilization programs on these economies, the possible impact of supply side development strategies, and the significance of Caribbean Basin Initiative policies for growth and stability in the area.







Jamaica


Book Description




The Confounding Island


Book Description

The preeminent sociologist and National Book Award–winning author of Freedom in the Making of Western Culture grapples with the paradox of his homeland: its remarkable achievements amid continuing struggles since independence. There are few places more puzzling than Jamaica. Jamaicans claim their home has more churches per square mile than any other country, yet it is one of the most murderous nations in the world. Its reggae superstars and celebrity sprinters outshine musicians and athletes in countries hundreds of times its size. Jamaica’s economy is anemic and too many of its people impoverished, yet they are, according to international surveys, some of the happiest on earth. In The Confounding Island, Orlando Patterson returns to the place of his birth to reckon with its history and culture. Patterson investigates the failures of Jamaica’s postcolonial democracy, exploring why the country has been unable to achieve broad economic growth and why its free elections and stable government have been unable to address violence and poverty. He takes us inside the island’s passion for cricket and the unparalleled international success of its local musical traditions. He offers a fresh answer to a question that has bedeviled sports fans: Why are Jamaican runners so fast? Jamaica’s successes and struggles expose something fundamental about the world we live in. If we look closely at the Jamaican example, we see the central dilemmas of globalization, economic development, poverty reduction, and postcolonial politics thrown into stark relief.




To Hell With Paradise


Book Description

In the course of the nineteenth century, Jamaica transformed itself from a pestilence-ridden "white man's graveyard" to a sun-drenched tourist paradise. Deftly combining economics with political and cultural history, Frank Fonda Taylor examines this puzzling about-face and explores the growth of the tourist industry into the 1990s. He argues that the transformations in image and reality were not accidental or due simply to nature's bounty. They were the result of a conscious decision to develop this aspect of Jamaica's economy.Jamaican tourism emerged formally at an international exhibition held on the island in 1891. The international tourist industry, based on the need to take a break from stressful labor and recuperate in healthful and luxurious surroundings, was a newly awakened economic giant. A group of Jamaican entrepreneurs saw its potential and began to cultivate a tourism psychology which has led, more than one hundred years later, to an economy dependent upon the tourist industry.The steamships that carried North American tourists to Jamaican resorts also carried U.S. prejudices against people of color. "To Hell with Paradise" illustrates the problems of founding a tourist industry for a European or U.S. clientele in a society where the mass of the population is poor, black, and with a historical experience of slavery and colonialism. By the 1990s, tourism had become the lifeblood of the Jamaican economy, but at an enormous cost: enclaves of privilege and ostentation that exclude the bulk of the local population, drug trafficking and prostitution, soaring prices, and environmental degradation. No wonder some Jamaicans regard tourism as a new kind of sugar.Taylor explores timely issues that have not been previously addressed. Along the way, he offers a series of valuable micro histories of the Jamaican planter class, the origins of agricultural dependency (on bananas), the growth of shipping and communications links, the process of race relations, and the linking of infrastructural development to tourism. The text is illustrated with period photographs of steamships and Jamaican tourist hotels.




Jamaica's Export Economy


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How Trade Liberalization Affects a Sugar Dependent Community in Jamaica


Book Description

Located within the plantation economy model of the “New World Group” of The University of the West Indies, this book explores how the changes in the European Union’s sugar regime impacted a sugar-dependent community in Jamaica. It details how the end of centuries of preferential treatment of Jamaican sugar in the British/European market in 2005 worsened the social and environmental realities of the Monymusk community in Clarendon, Jamaica, which depended on the sugar industry. In describing the response of the Jamaican Government to the changes in the EU Sugar Regime, and the subsequent roll-out of an EU funded adaptation strategy, the author provides some unique perspectives on this process, drawing on his experience as a senior civil servant involved in the process. The book also highlights the continued social and environmental impact on the area since 2015 . The book concludes with a discussion on the empirical findings and how those findings contribute to the debates on the dependency perpetuated by the Plantation Economy Model of development and the failure of neo-liberal influenced government policies, as well as the lack of imagination of post-independent governments to break this dependency and deliver on the promise of independence.




Global Economic Prospects, June 2020


Book Description

The COVID-19 pandemic has, with alarming speed, dealt a heavy blow to an already-weak global economy, which is expected to slide into its deepest recession since the second world war, despite unprecedented policy support. The global recession would be deeper if countries take longer to bring the pandemic under control, if financial stress triggers defaults, or if there are protracted effects on households and firms. Economic disruptions are likely to be more severe and protracted in emerging market and developing economies with larger domestic outbreaks and weaker medical care systems; greater exposure to international spillovers through trade, tourism, and commodity and financial markets; weaker macroeconomic frameworks; and more pervasive informality and poverty. Beyond the current steep economic contraction, the pandemic is likely to leave lasting scars on the global economy by undermining consumer and investor confidence, human capital, and global value chains. Being mostly a reflection of the recent plunge in global energy demand, low oil prices are unlikely to provide much of a boost to global growth in the near term. While policymakers' immediate priorities are to address the health crisis and moderate the short-term economic losses, the likely long-term consequences of the pandemic highlight the need to forcefully undertake comprehensive reform programs to improve the fundamental drivers of economic growth, once the crisis abates. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges faced by these economies, while the June edition contains shorter analytical pieces.




Poverty and Life Expectancy


Book Description

A multidisciplinary study that reconstructs Jamaica's rise from low to high life expectancy and explains how that was achieved. Jamaica is one of the small number of countries that has attained a life expectancy nearly matching that in richer countries, despite having a much lower level of per capita income.




Democratic Socialism in Jamaica


Book Description

The work includes a detailed historical account of the Manley years, focusing on shifting relations between contending social forces and on the interaction between economics and politics. Originally published in 1986. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.