Alton Best | University of the West Indies- Cave Hill (Barbados) (original) (raw)
Address: Saint Michael, Barbados
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Centre National de la Recherche Scientifique / French National Centre for Scientific Research
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Papers by Alton Best
The removal of artificial barriers and freeing up the international trade process are two aspects... more The removal of artificial barriers and freeing up the international trade process are two aspects of globalisation that could potentially contribute positively to the economic growth and development of CARICOM countries. However, tremendous challenges remain. This research provides compelling evidence that the region has lost grounds in its efforts to create a true path to sustainable development. Our findings imply that the governments of these countries do not fully understand the importance of being competitive or the underlying challenges associated with a globalized environment. Consequently, policies to boost trade are not crafted in a holistic fashion, thus lacking focus in many areas. Hence, our research focuses on this key question: Can CARICOM countries maintain positive economic growth rates in an era of increasing globalization under the same modus operandi--without meaningful improvements in their international competitiveness? Evidence suggests that the region’s trade ...
SSRN Electronic Journal, 2016
The paper empirically examines the question of whether bank liquid reserves to bank assets ratio ... more The paper empirically examines the question of whether bank liquid reserves to bank assets ratio and domestic credit to private sector as a percentage of GDP strengthens financial deepening on the real sector and hence catalyzes economic growth in Jamaica. A Granger causality approach is employed within a multivariate framework. Cointegration is used to examine the short-and long-run relationships within the model. Innovative accounting techniques (impulse response function and variance decomposition) are also utilized to determine the out-of-sample relation between financial deepening and economic growth. The empirical analysis is conducted with annual data from 1980 to 2014 with three proxies for financial deepening. The empirical evidence suggests a 'supplying-leading' relationship in both the short and long run. These results are confirmed by the innovation accounting techniques (impulse response function and the variance decomposition). Our findings imply that Jamaica should first concentrate on developing its financial sectors which has the potential to spur higher levels of economic growth in the real sectors of the economy.
The paper empirically examines the question of whether bank liquid reserves to bank assets ratio ... more The paper empirically examines the question of whether bank liquid reserves to bank assets ratio and domestic credit to private sector as a percentage of GDP strengthens financial deepening on the real sector and hence catalyzes economic growth in Jamaica. A Granger causality approach is employed within a multivariate framework. Cointegration is used to examine the short and long run relationships within the model. Innovative accounting techniques (impulse response function and variance decomposition) are also utilise to determine the out-of-sample relation between financial deepening and economic growth. The empirical analysis is conducted with annual data from 1980 to 2014 with three proxies for financial deepening. The empirical evidence suggests a ‘supplying-leading’ relationship in both the short and long run. These results are confirmed by the innovation accounting techniques (impulse response function and the variance decomposition). Our findings imply that Jamaica should first concentrate on developing its financial sectors which has the potential to spur higher levels of economic growth in the real sectors of the economy.
The removal of artificial barriers and freeing up the international trade process are two aspects... more The removal of artificial barriers and freeing up the international trade process are two aspects of globalisation that could potentially contribute positively to the economic growth and development of CARICOM countries. However, tremendous challenges remain. This research provides compelling evidence that the region has lost grounds in its efforts to create a true path to sustainable development. Our findings imply that the governments of these countries do not fully understand the importance of being competitive or the underlying challenges associated with a globalized environment. Consequently, policies to boost trade are not crafted in a holistic fashion, thus lacking focus in many areas. Hence, our research focuses on this key question: Can CARICOM countries maintain positive economic growth rates in an era of increasing globalization under the same modus operandi--without meaningful improvements in their international competitiveness? Evidence suggests that the region’s trade ...
SSRN Electronic Journal, 2016
The paper empirically examines the question of whether bank liquid reserves to bank assets ratio ... more The paper empirically examines the question of whether bank liquid reserves to bank assets ratio and domestic credit to private sector as a percentage of GDP strengthens financial deepening on the real sector and hence catalyzes economic growth in Jamaica. A Granger causality approach is employed within a multivariate framework. Cointegration is used to examine the short-and long-run relationships within the model. Innovative accounting techniques (impulse response function and variance decomposition) are also utilized to determine the out-of-sample relation between financial deepening and economic growth. The empirical analysis is conducted with annual data from 1980 to 2014 with three proxies for financial deepening. The empirical evidence suggests a 'supplying-leading' relationship in both the short and long run. These results are confirmed by the innovation accounting techniques (impulse response function and the variance decomposition). Our findings imply that Jamaica should first concentrate on developing its financial sectors which has the potential to spur higher levels of economic growth in the real sectors of the economy.
The paper empirically examines the question of whether bank liquid reserves to bank assets ratio ... more The paper empirically examines the question of whether bank liquid reserves to bank assets ratio and domestic credit to private sector as a percentage of GDP strengthens financial deepening on the real sector and hence catalyzes economic growth in Jamaica. A Granger causality approach is employed within a multivariate framework. Cointegration is used to examine the short and long run relationships within the model. Innovative accounting techniques (impulse response function and variance decomposition) are also utilise to determine the out-of-sample relation between financial deepening and economic growth. The empirical analysis is conducted with annual data from 1980 to 2014 with three proxies for financial deepening. The empirical evidence suggests a ‘supplying-leading’ relationship in both the short and long run. These results are confirmed by the innovation accounting techniques (impulse response function and the variance decomposition). Our findings imply that Jamaica should first concentrate on developing its financial sectors which has the potential to spur higher levels of economic growth in the real sectors of the economy.