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Windrush: The Perfect Storm

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NOTES and COMMENTS

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Debt for Climate Swaps: Lessons for Caribbean SIDS from the Seychelles’

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Innovative financing mechanisms such as debt for climate swaps could
help Caribbean SIDS (small island developing states) fund their costly
climate adaptation programmes, as well as reduce their high public debt
levels. In 2016, Seychelles secured the world’s first debt for climate swap
deal with the Paris Club group of developed country creditors, aimed at
ocean conservation and climate resiliency. This article draws lessons for

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Climate Services and Caribbean Resilience: A Historical Perspective

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This article describes the evolution of climate services in the Caribbean
over the last fifty years, which represents an important contribution to the
region’s increasing resilience to extreme weather, increasing climate
variability, and climate change. In particular, it focuses on recent advances
made by the Caribbean Institute for Meteorology and Hydrology (CIMH)
in collaboration with its multiple international, regional and national

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FDI and Technology Transfer in Trinidad and Tobago’s Construction Industry

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Foreign Direct Investment (FDI) is a potentially important channel for
fostering knowledge and technology spillovers. Although there has been a
preponderance of quantitative analyses of FDI, economic growth may not
necessarily lead to economic development of human capital and skills. In
the Caribbean, government-to-government arrangements with foreign
counterparts have supported infrastructural projects with the promise of

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An Economic Analysis of the Horse Racing Industry in Trinidad and Tobago

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The focus of this article is to conduct an economic analysis of the horse
racing industry in Trinidad and Tobago because its popularity has been
declining since the halcyon days of racing at the Queen’s Park Savannah.
Key trends are analysed in the breeding industry, including the annual
yearling sale, a critical bellwether for assessing its health. Additionally,
there is a comparison between the betting revenues of the Arima Race Club

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Do SPS and TBT regulations inhibit Guyana’s Food and Agriculture Exports to CARICOM markets?

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The gravity model framework is employed to test the impact of the
incidence of sanitary and phytosanitary (SPS) and technical
regulations (TBT) on exports of food and agriculture products from
Guyana to selected markets within the Caribbean Community
including Barbados, Trinidad & Tobago, Jamaica, Suriname,
Grenada, Dominica and Antigua & Barbuda; as well as the attempt
to coordinate and strengthen agricultural health and food safety

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Remittances and Economic Development: Evidence from the Caribbean

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This article empirically examines whether and how remittances impact
economic development in eleven Caribbean countries over the period
1975–2011. We employ the bounds test and ARDL framework to assess the
existence of long-run relationships and causality, and adopt a countryspecific
approach to accommodate differences among countries. We find
evidence of heterogeneous long-run causal relationships in seven
countries. Our findings contradict recent studies on the developmental

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Energy Consumption and Economic Development in Caribbean SIDS

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This article examines the direction of causality between energy
consumption and economic development in thirteen Caribbean small
island developing states, using annual data from 1980 to 2011. We
estimate a multivariate model that includes environmental emissions and
we utilise the Toda-Yamamoto approach to Granger causality testing to
determine causal links in each country. We find evidence of four different
types of causal relationships. These results have implications for

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Finance and Development in the Caribbean: Threats to the Link

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The aftermath of the global financial crisis of 2007/2008, followed by
threats of de-risking and issues surrounding correspondent banking,
provide a convenient context for researchers and policy-makers to
reconsider the role of the financial system in advancing growth and
development in the Caribbean. This article reviews the literature on the
link between finance and economic growth and development, and considers
major constraints which hinder the ability of the sector to make a greater

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Structural Constraints and Macroeconomic Policies to Promote Sustainable Growth in the Caribbean

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Since the global economic crisis of 2008/2009, average economic growth
rates in the Caribbean region have remained relatively low and at least two
countries are in recession. The goods-exporting economies, with the
exception of Guyana, have been affected by the decline in commodity
prices, while the service-exporting economies have not attained levels of
growth experienced in the pre-crisis period. It is argued that a
macroeconomic policy aimed at sustainable growth must be informed by

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