ABSTRACT
Contents Introduction .............................................................................................................................338 Economic, Social, Developmental, and Environmental Impacts ...............................................339 Strategic Policy Areas ............................................................................................................... 349 Conclusion ...............................................................................................................................352 References ................................................................................................................................353
Introduction The difficulties in achieving a sustained pattern of good economic performance in the Caribbean nations have been the subject of considerable study and debate. Various studies have emphasized such issues as the general lack of comparative and competitive advantage; the difficulties in achieving economic scale and scope; the lack of economic diversity and the resultant problems with market structure; the variable quality of the institutional environment; corruption and the politics of patronage; the fading legacy of colonialism in the political, institutional, and economic structures of Caribbean territories; and the limited policy space available to Caribbean governments after accumulating high levels of debt.
