Abstract
In concluding, the Jamaican economy has found itself in a deadlock in trying to maintain macroeconomic stability as well as increasing economic growth and productivity necessary for sustained economic development. Declining labor productivity and slow infrastructural development coupled with government inefficiency and ulterior motives has prevented the country from entering a steady-state growth path towards development. Jamaica’s aim to achieve stability, growth and development should be guided by clear plans of linking short-run stability and growth tactics to long-run developmental strategic objectives. Although it appears to be in a deadlock, Jamaica has made significant strides in the right direction under the supervision of the International Monetary Fund (IMF), the World Bank, the Inter-American Development Bank (IDB) and other multilateral lenders since 2013.
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Notes
- 1.
The IMF reduced Jamaica’s primary fiscal balance from 7.5 to 7.25 percent of GDP as of November 2015.
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Haughton, A. (2017). Concluding Remarks and Policy Recommendation. In: Developing Sustainable Balance of Payments in Small Countries. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-53031-4_10
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DOI: https://doi.org/10.1007/978-3-319-53031-4_10
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