Consumer confidence and economic growth: case studies of Jamaica and Trinidad and Tobago
Abstract
This study examined the causal link between consumer confidence and GDP in Jamaica and Trinidad and Tobago in the context of the vector autoregression (VAR) methodology. The interest rate and exchange rate were also included in the model as control variables. In the case of Jamaica, remittances were included due to its importance in the economy. The study argued that consumer confidence indices can be useful in economic forecasting, policymaking and business planning in Jamaica and Trinidad and Tobago. This usefulness is, however, built on the assumption that the index leads (or causes) aggregate economic conditions.
Serie
Documentos de Proyectos No. 545United Nations Subtopics
CONSUMERS ; ECONOMIC GROWTH ; GROSS DOMESTIC PRODUCT ; CASE STUDIESCountry / Region
JAMAICA ; TRINIDAD AND TOBAGO ; CARIBBEAN REGIONen