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Thwarted Comparative Advantage, Economic Policy and Industrialization in the Dominican Republic and Trinidad and Tobago*

Published online by Cambridge University Press:  02 January 2018

Francisco E. Thoumi
Francisco E. Thoumi*
Affiliation:
University of California-Chico, Inter-American Development Bank in Washington
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Extract

Economic growth and government policies in small Caribbean countries have been conditioned (1) by the very large fluctuations in their external sector which continuously change the relative profitability of the various productive sectors of their economies, greatly complicating the macroeconomics management of their economies; (2) by the attempts of their governments to cope with those fluctuations; and (3) by the political economy relations that prevail in those countries, and that determine the nature of government intervention and the role of the private sector.

Type
Research Article
Information
Journal of Interamerican Studies and World Affairs , Volume 31 , Issue 1-2: Special Issue: Latin America at the Crossroads: Major Public Policy Issues , Spring/Summer 1989 , pp. 147 - 168
Copyright
Copyright © University of Miami 1989

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Footnotes

*

This essay is a byproduct of the author's work on the industrial sector in the Dominican Republic (in 1974,1983 and 1987) and in Trinidad and Tobago (in 1987). However, the ideas expressed are his own and do not represent policies or points of view of the Inter-American Development Bank. The author wishes to thank Gonzalo Giraldo, Markos Mamalakis, and Hugh Schwartz for their valuable comments to a previous draft, and Maritza Bojorge for her patient and accurate typing.

References

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