Contemporary Challenges for Caribbean Economies Crucial Problems and Practical Solutions

In this book, economists Terence M. Yhip and Brian Alagheband offer ideas and proposals to reinvigorate economic growth through the adoption of technology and investment in human capital. The book explains how to diversify economies by increasing the complexity of exports. With a shift in priorities, nations will need to raise total factor productivity and potential output.
The book offers strategies to diversify the production and export of complex goods and services. The authors note that the necessary capabilities can take nations decades to build. Such investment will require trade-offs and sacrifice. Progress cannot and will not be immediate, but such modifications will produce meaningful economic returns.
Contemporary Challenges for Caribbean Economies includes a chapter on the oil future for Guyana, a rising economic "superstar" due to the nation's oil riches that portend either blessing or curse. It also includes a chapter written by Tawfik Ramtoolah about the impressive dynamism of the Mauritius economy, which transformed from sugar-cane monoculture to industrial and financial services diversification.
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