Eastern Caribbean Currency Union: Selected Issues
January 28, 2011
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The objective of this paper is to analyze the growth performance of the ECCU countries since independence and the policy challenges they face to ensure sustained growth in the period ahead. Although tourism specialization may bring about higher growth, it could also increase volatility in growth by amplifying the impact of business cycles in source countries on the tourism sector. Low productivity growth is principally the reason for the slowdown in growth. High debt levels have been a major drag on growth.
Subject: Budget planning and preparation, Civil service, Economic sectors, Expenditure, Labor, Public debt, Public financial management (PFM), Tourism
Keywords: Budget planning and preparation, Caribbean, Civil service, composition analysis, CR, debt, ECCU country, ECCU group, ECCU Tourism, GDP, Global, ISCR, public debt debt ratio, public-debt-to GDP ratio, Tourism, Tourism competitiveness vis-á-vis
Pages:
62
Volume:
2011
DOI:
Issue:
032
Series:
Country Report No. 2011/032
Stock No:
1ECCEA2011002
ISBN:
9781455213894
ISSN:
1934-7685
