Caribbean development report: A perusal of public debt in the Caribbean and its impact on economic growth

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cepal.bibLevelDocumento Completo
cepal.callNumberLC/CAR/TS.2017/18
cepal.callNumberLC/TS.2017/157
cepal.docTypeSeries
cepal.regionalOfficePuerto España
cepal.sdg1
cepal.sdg8
cepal.sdg11
cepal.sdg13
cepal.topicEngECONOMIC GROWTH
cepal.topicEngPUBLIC ADMINISTRATION
cepal.topicEngPUBLIC INCOME AND EXPENDITURE
cepal.topicEngFISCAL AFFAIRS
cepal.topicEngFINANCING AND EXTERNAL DEBT
cepal.topicEngFINANCING FOR DEVELOPMENT
cepal.topicSpaCRECIMIENTO ECONÓMICO
cepal.topicSpaGESTIÓN PÚBLICA
cepal.topicSpaINGRESOS Y GASTOS PÚBLICOS
cepal.topicSpaASUNTOS FISCALES
cepal.topicSpaFINANCIAMIENTO Y DEUDA EXTERNA
cepal.topicSpaFINANCIAMIENTO PARA EL DESARROLLO
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaEngPLANNING FOR DEVELOPMENT
cepal.workareaSpaDESARROLLO ECONÓMICO
cepal.workareaSpaPLANIFICACIÓN PARA EL DESARROLLO
dc.contributor.authorMcLean, Sheldon
dc.contributor.authorCharles, Don
dc.coverage.spatialEngCARIBBEAN REGION
dc.coverage.spatialEngANTIGUA AND BARBUDA
dc.coverage.spatialEngBARBADOS
dc.coverage.spatialEngBELIZE
dc.coverage.spatialEngDOMINICA
dc.coverage.spatialEngGRENADA
dc.coverage.spatialEngGUYANA
dc.coverage.spatialEngJAMAICA
dc.coverage.spatialEngSAINT KITTS AND NEVIS
dc.coverage.spatialSpaCARIBE
dc.coverage.spatialSpaANTIGUA Y BARBUDA
dc.coverage.spatialSpaBELICE
dc.coverage.spatialSpaBARBADOS
dc.coverage.spatialSpaDOMINICA
dc.coverage.spatialSpaGRANADA
dc.coverage.spatialSpaGUYANA
dc.coverage.spatialSpaJAMAICA
dc.coverage.spatialSpaSAINT KITTS Y NEVIS
dc.date.accessioned2018-02-26T18:05:00Z
dc.date.available2018-02-26T18:05:00Z
dc.date.issued2018-01-31
dc.description.abstractThis paper examines the genesis and evolution of debt and debt overhang in the Caribbean with individual case studies, to extract lessons and make broad recommendations with regard to appropriate mechanisms and policy measures that can be implemented to reduce the debt burden of the subregion. The econometric model utilized in the paper has shown that a one percent increase on debt to GDP ratio causes a 0.015decline in real GDP growth for the countries in the Caribbean panel, suggesting that debt has a pernicious effect on growth on Caribbean economies. What is even more worrisome was that Caribbean economies did not demonstrate the traditional non-linear (bell-shaped) effect of debt on growth, where there is a range in which a positive relation between debt and growth exists. Traditionally, as debt increases, so does economic growth, up to a point. After this maximum point is passed, the relationship turns negative, where increases in debt cause a decrease in economic growth. In contrast, using the Caribbean countries selected in the panel over the period 2000-2015, it was empirically found that, at all levels, increases in debt resulted in a decline in economic growth for Caribbean economies. It was also shown that the financial crisis negatively affected growth in the Caribbean, lending credence to the view that Caribbean economies are exceedingly vulnerable to exogenous economic shocks.
dc.description.tableOfContentsAbstract. -- Introduction. -- I. An examination of Caribbean. -- II. An overview of Caribbean efforts at debt reduction. -- III. Empirical examination of influence of debt on growth in select Caribbean economies. -- IV. Conclusion and way forward. -- Bibliography.
dc.formatTexto
dc.format.extent39 páginas.
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/CAR/TS.2017/18
dc.identifier.unSymbolLC/TS.2017/157
dc.identifier.urihttps://hdl.handle.net/11362/43312
dc.language.isoeng
dc.physicalDescription39 p.
dc.publisherECLAC, Subregional Headquarters for the Caribbean
dc.publisher.placePort-of-Spain
dc.relation.isPartOfSeriesStudies and Perspectives Series (The Caribbean)
dc.relation.isPartOfSeriesNo70
dc.rights.coarDisponible
dc.subject.unbisEngPUBLIC DEBT
dc.subject.unbisEngECONOMIC GROWTH
dc.subject.unbisEngFISCAL POLICY
dc.subject.unbisEngFINANCIAL CRISIS
dc.subject.unbisEngDEBT RELIEF
dc.subject.unbisEngDEBT RESTRUCTURING
dc.subject.unbisEngPOLICY MAKING
dc.subject.unbisEngCLIMATE CHANGE
dc.subject.unbisEngDEVELOPMENT STRATEGIES
dc.subject.unbisEngECONOMETRIC MODELS
dc.subject.unbisEngCASE STUDIES
dc.subject.unbisEngRECOMMENDATIONS
dc.subject.unbisSpaDEUDA PUBLICA
dc.subject.unbisSpaCRECIMIENTO ECONOMICO
dc.subject.unbisSpaPOLITICA FISCAL
dc.subject.unbisSpaCRISIS FINANCIERA
dc.subject.unbisSpaALIVIO DE LA DEUDA
dc.subject.unbisSpaREESTRUCTURACION DE LA DEUDA
dc.subject.unbisSpaELABORACION DE POLITICAS
dc.subject.unbisSpaCAMBIO CLIMATICO
dc.subject.unbisSpaESTRATEGIAS DEL DESARROLLO
dc.subject.unbisSpaMODELOS ECONOMETRICOS
dc.subject.unbisSpaESTUDIOS DE CASOS
dc.subject.unbisSpaRECOMENDACIONES
dc.titleCaribbean development report: A perusal of public debt in the Caribbean and its impact on economic growth
dc.type.coarlibro
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Studies and Perspectives – ECLAC Subregional Headquarters for The Caribbean