The International Monetary Fund (IMF) has attributed the slowdown in growth in the Caribbean primarily to decline in productivity rather than to a lack of investment.
In a Working Paper, entitled “Caribbean Growth in an International Perspective: The Role of Tourism and Size,” the Washington-based financial institution also says tourism has been a “significant contributor” to higher growth, through both capital accumulation and productivity, and lower output volatility.
But it says policies aimed at improving productivity, further development of the tourism sector, and regional integration could “pay dividends in terms of higher growth in the region.”
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