Are Oil and Gas Smothering the Private Sector in Trinidad and Tobago?

Khadan, Jeetendra

doi:10.18235/0000602

Cited by 9 publications

(14 citation statements)

References 76 publications

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“…In the mainstream literature, resource-curse proponents argue that resource wealth and endowments are correlated with poor economic growth (Auty, 2002; Sachs & Warner, 1995). In resource-dependent developing countries, according to these scholars, manufacturing growth has stagnated due to the leakage of economic resources to enclave commodity-based sectors that produce little employment, appreciate the exchange rate and absorb a considerable amount of foreign exchange (Frankel, 2012; Khadan, 2016). Perverse effects are supposedly spread through poor inherited economic institutions such as weak property rights and contracting, and such countries are ultimately plagued by relatively low per capita incomes, price distortions due to state intervention and poor human development outcomes (Acemoglu, Johnson, & Robinson, 2001; Engerman & Sokoloff, 2005; Krueger, 1974; Sachs & Warner, 2001).…”

Section: Literature Reviewmentioning

confidence: 99%

“…In the case of Trinidad and Tobago (hereafter T&T), recent studies have suggested that reliance on petroleum and gas resources have weakened manufacturing growth and diminished innovation (Artana, Auguste, Ramiro, Sookram, & Watson, 2007; Khadan, 2016). Critics challenge these conclusions by invoking the agential role that the organized labor played in the country’s governance and human development (Edwards, 2017a, 2017b).…”

Section: Introductionmentioning

confidence: 99%

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The Dynamics of Industrial Development in a Resource-Rich Developing Society: A Political Economy Analysis

Perry

2018

Journal of Developing Societies

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This article criticizes the resource curse thesis for neglecting the interplay of international factors and domestic politics, that is the political settlement, in explaining industrial performance in a resource-dependent society – Trinidad and Tobago. Using political settlement, analysis secondary as well as interview data, it examines the dynamics at the macro and sectoral levels in iron and steel and telecommunications in Trinidad and Tobago. The historical evidence reveals that anti-colonial mobilizations spurred critical public investments in developmental institutions and industrial projects responsible for improving the country’s productive base and technological capability in the post- Black Power period. These investments were bolstered by a favorable geopolitical climate and the 1973 commodity boom. Sectoral case studies reveal how shifts in the country’s political settlement affected late-industrializing accumulation of accumulation technological capabilities. Hereafter neoliberal policies facilitated an increased role for external actors in economic policy and ethnic-based clientelism within the political economy.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

The Dynamics of Industrial Development in a Resource-Rich Developing Society: A Political Economy Analysis

Perry

2018

Journal of Developing Societies

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“…Trinidad and Tobago (T&T) is considered a small highly open hydrocarbon exporting economy and as such the non-energy export sector has been a key area of policy focus over the last few decades especially in terms of articulating pathways for export diversification. In the context of the economic adjustments associated with the global pandemic, the paper posits that the economy is poised to leverage the opportunity for reset from a policy perspective and to reconsider strategies to expand the non-energy sector [7,8].…”

Section: Introductionmentioning

confidence: 99%

“…Against these realities T&T policy makers have recognized the importance of progressing the local and by extension the regional trade facilitation agenda as a strategy to improve competitiveness and in the context of economic diversification, increase exports [7,8]. To this end, this paper aims to focus the discussion on key trade facilitation variables which can have a marked improvement on trade costs and hence on the overall level of exports.…”

Section: Introductionmentioning

confidence: 99%

Trade Facilitation and Non-Energy Exports of Trinidad and Tobago

Hosein¹,

Gookool

Saridakis

2021

Sustainability

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The economy of Trinidad and Tobago (T&T) has traditionally depended on its energy sector as a key driver of economic activity. This sector, however, has been shown to be volatile and vulnerable to global economic shocks; this is no more evident than what has been observed during the coronavirus pandemic. Oil prices have, as a result declined significantly, and this has put the economy on a path of compounded economic misfortune. The non-energy trade sector though has traditionally been identified as having more stable export earning potential and as such in adjusting to the economic nuances of the global shock associated with the coronavirus pandemic, there is an opportunity for policy makers to reconsider the role of the non-energy sector. This paper provides an overview of trade facilitation policy considerations to boost the outcomes of the non-energy sector. We find that factors such as language, port infrastructure liner connectivity and customs impact on export performance.

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“…This is a particularly important policy issue as an "inadequately educated workforce" has been consistently identified by firms as the most important constraint to their performance (PROTEqIN Survey 2014;and World Bank Enterprise Survey 2010). The factors underlying this constraint have been attributed to worker emigration, low quality of education, inadequate training offered by local educational institutions, and skills shortages and mismatches (Khadan 2017;Mishra 2006).…”

Section: Introductionmentioning

confidence: 99%

Estimating the Effects of Human Capital Constraints on Innovation in the Caribbean

Khadan

2018

Economies

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Human capital, as reflected in education levels and skills, and innovation is an important engine of economic growth. The Caribbean is deficient in both: lower than expected GDP growth rates are accompanied by relatively low innovation at the firm level, and the workforce is characterised by skills deficiencies and educational mismatches. In that regard, this paper exploits firm-level data covering 13 Caribbean countries to examine the extent to which innovation, a key driver of productivity growth, is affected by firms' inability to find appropriately educated and skilled workers to fill key positions in its organizational structure, which is estimated using Probit models distinguishing between past and future innovation decisions. The econometric analysis finds that firms that have difficulty finding new skilled employees are less likely to engage in any type of innovation compared to those that can, and this is also true for decisions about future technological and non-technological innovations. Moreover, firms that face challenges finding employees with the required core and job-related skills at the managerial and professional levels are also less likely to innovate. Finally, while in-firm training is found to increase the probability of innovation, its magnitude is low.

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Are Oil and Gas Smothering the Private Sector in Trinidad and Tobago?

Cited by 9 publications

References 76 publications

The Dynamics of Industrial Development in a Resource-Rich Developing Society: A Political Economy Analysis

The Dynamics of Industrial Development in a Resource-Rich Developing Society: A Political Economy Analysis

Trade Facilitation and Non-Energy Exports of Trinidad and Tobago

Estimating the Effects of Human Capital Constraints on Innovation in the Caribbean

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