Statement by Godfrey Gaoseb at the meeting of April 13, 1999 (original) (raw)

The Impact of Macroeconomics Policies in Trinidad and Tobago

2002

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Another Wasted Year. :Review of Performance of Trinidad and Tobago Economy

The year 2011 comes to a close with the Trinidad and Tobago economy no better off than at the end of 2010. Our economic performance can be summarized very simply as disappointing stagnation. The promise of a return to positive growth in 2011 remains unfulfilled and the outlook of highly uncertain endures in the face of recent events. The popular inclination to blame the international economic environment for our condition would have little basis in fact as it relates to 2011. But the culture of blame is well entrenched in this society, where politicians in particular, seem averse to introspection. The challenges we face have little to do with the external environment but with the choices we have made with the resources with which we have been blessed. Regardless of the pros or cons of the external environment, it is our own resourcefulness and self belief that will launch us into better future.

Productive Development Policies in Trinidad and Tobago: A Critical Review

2010

Even as Trinidad and Tobago seeks productive diversification away from the energy sector, the process underlying the country's productive development policies (PDP) is in a state of transition from state-directed industrial policy to a newer approach with extensive private-public participation. This study explores the main characteristics of four PDPs in Trinidad and Tobago and reviews them following the related literature (e.g., . The four PDPs are: a) The process towards the Promotion of Clusters; b) the PDPs for the Tourism industry; c) the classical PDPs for Micro, Small and Medium Enterprises and; d) the Free Trade Zone as a policy designed to compensate for the failure of the State.

Enhancing Access to Finance in the Caribbean

2009

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

2017

Hence, a concerted policy effort is required to transform Trinidad and Tobago's private sector into an engine of sustainable growth. This study examines factors relating to the profile of firms, macroeconomic conditions, the business climate, and laments of businesspersons as possible constraints to performance. The findings reveal that an unfavorable macroeconomic environment and business climate affects all firms in the private sector. With respect to the former, the main issue relates to an overvalued exchange rate-a negative externality of being hydrocarbon-dependent. An unfavorable business climate reflects government policies, regulations, and public services that hinder rather than promote a dynamic, export-oriented and innovative private sector. Moreover, the profile of private sector firms-an important determinant of performance-is unfavourable in terms of age, size, legal form, and trade orientation. Estimates from this study suggests limited access to financing, and labour and crime constraints are the three main microeconomic factors that weigh negatively on the sales growth of firms. Positioning Trinidad and Tobago on a sustainable growth path requires a vibrant private sector. Despite the formidable challenges identified, proactive planning though a structured, participatory, and inclusive approach resulting in effective policy-making and the implementation of relevant policies that speak to the unique circumstances of Trinidad and Tobago is the answer. It is time for a change. Rather than refocusing efforts on cherry-picking industries or debating which sectors should be developed, à la vertical productive development policies, this report suggest that Trinidad and Tobago should employ structural policies that would improve the overall business environment and underlying macroeconomic constraints, à la horizontal productive development policies. This report is timely and sets the stage for further discussions on preparing Trinidad and Tobago's private sector to deal with the challenges that lay ahead.

Diversification in Trinidad and Tobago: Waiting for Godot?

2016

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Country Program Evaluation: Trinidad and Tobago 2011-2015

2016

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The World Bank Latin America and the Caribbean Region Office of the Regional Chief Economist

2011

The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent.