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Achieving a Resilient Future for Small States

Caribbean 2050

image of Achieving a Resilient Future for Small States

The Caribbean faces numerous economic, social and environmental challenges, with current projections predicting the road ahead to be filled with low levels of growth, high debt and low resilience.



In Achieving a Resilient Future for Small States: Caribbean 2050, the contributors set out a long-term, research-based strategy for avoiding these projections, recommending a number of policy interventions aimed at building the region’s resilience and development prospects.



Written by influential analysts and researchers and drawing on a wide cross-section of regional stakeholders and thought leaders, the study contains an assessment of the main challenges and opportunities for the region, scenario modelling of where the region could be by 2050, and a broad vision for the region with sector specific goals of how to get there.

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A Call to Action: the Caribbean We Want

The Caribbean region faces numerous economic, social and environmental challenges. The economies have been caught in a low-growth trajectory and falling total factor productivity (TFP), accompanied by high-debt ratios. Since 2000, while real per capita growth rates in developing countries averaged around 4 per cent per annum, the comparable figure for the Caribbean Common Market and Community (CARICOM) was just around 2 per cent. While the small size of the private sector, the lumpiness of government investment and unfavourable external circumstances have contributed significantly to the poor performance of regional economies, weather-related shocks have also served to derail their development efforts. With the expected intensification of adverse weather events resulting from climate change, and Caribbean countries’ limited resources and capacity to respond, the road ahead for the region is expected to be even more challenging.

English

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