Caribbean Growth in an International Perspective: The Role of Tourism and Size

Thacker, Nita; Mejia, Sebastian Acevedo; Perrelli, Roberto

doi:10.5089/9781475510898.001

Cited by 22 publications

(18 citation statements)

References 19 publications

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“…Thacker et al (2012) found that the positive contribution from specializing in tourism has helped to more than offset the negative impact of being a small island economy, and according to the authors tourism has been a significant contributor to lower output volatility in many countries. The latter presents an argument for learning more on the development of tourism demand during a period, let's say a year.…”

Section: Introductionmentioning

confidence: 99%

Impacts of seasonal patterns of climate on recurrent fluctuations in tourism demand: Evidence from Aruba

et al. 2014

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This study estimates the effect of seasonal patterns of pull/push weather elements (rainfall, temperature, wind, and cloud coverage) on recurrent fluctuations in tourism demand for Aruba, originating from the USA and Venezuela. The estimation is based on an econometric methodology consisting of decomposing time series of weather elements and tourism demand, using a Census X-12 decomposition procedure, and subsequently applying a unit root test, anEngle & Granger cointegration test, a Granger causality test, and a Euclidean distance measure.The results show no influence of weather (pull and push) on the seasonal patterns of tourism demand from Venezuela. On the other hand, the study showed a clear causal relationship between (pull and push) seasonal weather variability and tourism demand from the USA.

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Section: Introductionmentioning

confidence: 99%

Impacts of seasonal patterns of climate on recurrent fluctuations in tourism demand: Evidence from Aruba

et al. 2014

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“…Thacker & Perrelli, (2012) noted, that some studies have tried to investigate the growth performance of Caribbean countries, but not much data was found, thus making building upon previous research difficult. The similarity of these problems within the member countries of OECS shows how the region is affected in the area of higher education development.…”

Section: Statement Of the Problemmentioning

confidence: 99%

Challenges and Solutions of Higher Education in the Eastern Caribbean States

Browne¹,

Shen²

2017

IJHE

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Higher education is considered as one of the most essential factors in influencing societal changes, due to its ability to help formulate good decision making in every sphere of modern society, in businesses, education, politics and science. Higher education over the years has significantly increased, thus given rise to many opportunities for those who pursue it. The Caribbean students, like the rest of the world seek to benefit from higher education, not only for enhanced academic knowledge, but also for socio-economic development.Due to its sluggish development, brittle economy and lack of natural resources the Caribbean region faces many economic challenges in making quality higher education accessible to all of its occupants.The purpose of this study is to investigate and compare the challenges of low output of higher education and availability of higher education institutions in the 21 st century in the Eastern Caribbean. The study analyzed database of 37 tertiary institutions in the OECS, while using comparative approach to analyze availability and cost for higher education. Results show that factors that are affecting higher education in the region are accessibility, location, quality of education, institutional costs and unemployment of graduates. We found that increased access in higher education has risen tremendously due to accessibility of technology and factors like globalization, integration-networking and traveling cost. This paper suggests that collaborative approach be taken by governments of the region to increase access and funding for higher education through scholarships and grants.

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“…Building on the work by Thacker, Acevedo, and Perrelli (2012) on the contribution of tourism to growth in the Caribbean, recent IMF research has focused on assessing the demand factors influencing tourist arrivals, as well as possible supply factors. Specifically, LaFramboise and others (2014) They study the effects on tourist arrivals of demand variables like prices-based on the real effective exchange rate calculated using tourism source market weightsincome and employment in the main source market countries; supply variables, such as the number of hotel beds in the region and the number of airlines flying to the Caribbean; and exogenous factors, such as natural disasters and crime.…”

Section: Tourism In the Caribbean-demand And Supply Factorsmentioning

confidence: 99%

“…Although the literature analyzing this relationship is limited, some studies clearly suggest that tourism does indeed have a positive and significant impact on growth, particularly for low-and middle-income countries (Eugenio-Martín, Martín, and Scarpa 2004). A study by Thacker, Acevedo, and Perrelli (2012) that includes a large group of tourism-dependent small island states finds that tourism not only boosts economic growth, it also helps reduce growth volatility. Specifically, a 10 percent increase in tourist arrivals (as a share of a country's population) raises real per capita GDP growth by about 0.2 percentage point.…”

Section: Introductionmentioning

confidence: 99%

Unleashing Growth and Strengthening Resilience in the Caribbean

Srinivasan¹,

Ötker²,

Ramakrishnan³

et al. 2017

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In its aim to stimulate policy dialogue and help policymakers overcome the challenges that hinder Caribbean economies from fulfilling their potential for growth and development, this book is a timely success. By bringing together up-to-date research on the challenges of weak macroeconomic fundamentals and long-standing structural impediments, it provides insights and policy perspectives that can shape coherent answers to these pressing policy concerns. The book's careful analyses point the way toward opportunities for welfare gains from determined but balanced policy actions targeted at the region's high energy costs, financial exclusion, high crime rates, and the persistent loss of skilled workers to richer countries. Consideration of the vulnerabilities and opportunities that arise from financial interconnectedness across the Caribbean also informs the book's reminder to policymakers of the benefits that remain to be exploited by greater regional cooperation in a number of areas. With its relevance and range of evidence-based policy recommendations, this volume earns its place on the bookshelves of practitioners and other students of Caribbean economic development. -Brian Wynter Governor, Bank of JamaicaThis book provides a comprehensive assessment of three major Caribbean contemporary economic challenges-slow growth, macroeconomic imbalances, and structural impediments. The chapters are skillfully written by Fund economists, who are versed in the various aspects of Caribbean economic issues, to relate the challenges to the vicious cycle. Policy recommendation is an important aspect of the book and addressed at both the individual country and regional levels. This book is a mustread for public policymakers and anyone interested in contemporary Caribbean and small states economic and financial issues.-Dr. Gobind Ganga Governor, Bank of Guyana Economic growth in the Caribbean over the last two decades has been slow, both relative to growth in the region over the previous 20 years and in comparison to other small, non-Caribbean countries. Unleashing Growth and Strengthening Resilience in the Caribbean provides a thorough analysis of the region's subpar economic performance and lays out a practical approach for improvement. The authors highlight key policy changes that merit serious consideration: building greater resilience to increasingly frequent hurricanes; reducing the cost of energy; greater investment in infrastructure; more regional cooperation and integration; microeconomic reforms to reduce the cost of doing business; and countercyclical fiscal policy. But the path to faster sustainable and inclusive growth is different for each of the 13 countries examined in this book, and it's refreshing to see the IMF embark upon a more collaborative, tailored approach to its recommendations for developing countries. This country-specific approach is part of a broader-and greatly welcomed-philosophical change at the Fund, which recognizes that the best kind of economic discipline does not push extreme measures such a...

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Caribbean Growth in an International Perspective: The Role of Tourism and Size

Cited by 22 publications

References 19 publications

Impacts of seasonal patterns of climate on recurrent fluctuations in tourism demand: Evidence from Aruba

Impacts of seasonal patterns of climate on recurrent fluctuations in tourism demand: Evidence from Aruba

Challenges and Solutions of Higher Education in the Eastern Caribbean States

Unleashing Growth and Strengthening Resilience in the Caribbean

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