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Volumn 31, Issue 1, 1996, Pages 41-73

Guyana: From cooperative socialism to economic liberalization and growth: 1976-1994

Author keywords

[No Author keywords available]

Indexed keywords

COMPARATIVE STUDY; DEVELOPING COUNTRY; DEVELOPMENT STRATEGY; ECONOMIC GROWTH; ECONOMIC LIBERALISATION; ECONOMIC POLICY; GROWTH PERFORMANCE; POLICY APPROACH; POLICY REFORM; POLICY TRENDS; SOCIALIST SYSTEM; STATISM;

EID: 0030322463     PISSN: 0022037X     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Review
Times cited : (8)

References (66)
  • 1
    • 6144277335 scopus 로고
    • Guyana: The Society and Its Environment
    • ed. Tim Merrill Washington, DC: Federal Research Division, Library of Congress
    • See Frederick Conway, "Guyana: The Society and Its Environment," in Guyana and Belize: Country Studies, 2d ed., ed. Tim Merrill (Washington, DC: Federal Research Division, Library of Congress, 1993), p. 40. It is estimated around 500,000 live abroad. Brian McFeeters, "Guyana: The Economy in Guyana and Belize: Country Studies," ibid., p. 73, observed that an estimated 72,000 Guyanese, almost one-tenth of the population, emigrated between 1976 and 1981. Among those who left the country were many of the most skilled managers and entrepreneurs. And Conway, ibid., p. 40, noted that "many of these emigrants were reported to be middle-class professionals, largely Indo-Guyanese, who opposed government policies that favored employment of Afro-Guyanese in the public sector."
    • (1993) Guyana and Belize: Country Studies, 2d Ed. , pp. 40
    • Conway, F.1
  • 2
    • 6144287713 scopus 로고    scopus 로고
    • Guyana: The Economy in Guyana and Belize: Country Studies
    • See Frederick Conway, "Guyana: The Society and Its Environment," in Guyana and Belize: Country Studies, 2d ed., ed. Tim Merrill (Washington, DC: Federal Research Division, Library of Congress, 1993), p. 40. It is estimated around 500,000 live abroad. Brian McFeeters, "Guyana: The Economy in Guyana and Belize: Country Studies," ibid., p. 73, observed that an estimated 72,000 Guyanese, almost one-tenth of the population, emigrated between 1976 and 1981. Among those who left the country were many of the most skilled managers and entrepreneurs. And Conway, ibid., p. 40, noted that "many of these emigrants were reported to be middle-class professionals, largely Indo-Guyanese, who opposed government policies that favored employment of Afro-Guyanese in the public sector."
    • Guyana and Belize: Country Studies, 2d Ed. , pp. 73
    • McFeeters, B.1
  • 3
    • 6144283302 scopus 로고    scopus 로고
    • See Frederick Conway, "Guyana: The Society and Its Environment," in Guyana and Belize: Country Studies, 2d ed., ed. Tim Merrill (Washington, DC: Federal Research Division, Library of Congress, 1993), p. 40. It is estimated around 500,000 live abroad. Brian McFeeters, "Guyana: The Economy in Guyana and Belize: Country Studies," ibid., p. 73, observed that an estimated 72,000 Guyanese, almost one-tenth of the population, emigrated between 1976 and 1981. Among those who left the country were many of the most skilled managers and entrepreneurs. And Conway, ibid., p. 40, noted that "many of these emigrants were reported to be middle-class professionals, largely Indo-Guyanese, who opposed government policies that favored employment of Afro-Guyanese in the public sector."
    • Guyana and Belize: Country Studies, 2d Ed. , pp. 40
    • Conway1
  • 5
    • 0344502157 scopus 로고
    • Washington, DC: International Monetary Fund
    • See International Monetary Fund,Guyana-Statistical Appendix, IMF Staff Country Report No. 95-68 (Washington, DC: International Monetary Fund, 1995); and World Bank, Trends in Developing Countries (Washington, DC: World Bank), various issues, for these statistics.
    • (1995) Guyana-Statistical Appendix, IMF Staff Country Report No. 95-68
  • 6
    • 0004210567 scopus 로고    scopus 로고
    • Washington, DC: World Bank, various issues, for these statistics
    • See International Monetary Fund,Guyana-Statistical Appendix, IMF Staff Country Report No. 95-68 (Washington, DC: International Monetary Fund, 1995); and World Bank, Trends in Developing Countries (Washington, DC: World Bank), various issues, for these statistics.
    • Trends in Developing Countries
  • 7
    • 6144273318 scopus 로고
    • Budget Speech
    • delivered on 19 January Sixth Parliament of Guyana under the Constitution of Guyana, First Session 1992-1996
    • See Bharrat Jagdeo, "Budget Speech, "delivered on 19 January 1966, in Guyana Sessional Paper No. 1 of 1996, Sixth Parliament of Guyana under the Constitution of Guyana, First Session 1992-1996, p. 40.
    • (1966) Guyana Sessional Paper No. 1 of 1996 , pp. 40
    • Jagdeo, B.1
  • 9
    • 6144279968 scopus 로고    scopus 로고
    • See the statement by President Cheddi Jagan, "National Democracy," reprinted in Guyana Monitor (Brooklyn, NY), September 1996, p. 8. The Guyana Monitor is an occasional newspaper that appears in New York City.
    • National Democracy
    • Jagan, C.1
  • 10
    • 6144275077 scopus 로고    scopus 로고
    • reprinted in (Brooklyn, NY), September
    • See the statement by President Cheddi Jagan, "National Democracy," reprinted in Guyana Monitor (Brooklyn, NY), September 1996, p. 8. The Guyana Monitor is an occasional newspaper that appears in New York City.
    • (1996) Guyana Monitor , pp. 8
  • 11
    • 0003742806 scopus 로고
    • New York: Oxford University Press for the World Bank
    • The empirical evidence suggests that countries that control ethnic violence and provide increased opportunities for ethnic minorities tend to have higher rates of economic growth and stability. See World Bank, World Development Report 1991 (New York: Oxford University Press for the World Bank, 1991), p. 138; and John Gafar, "Macroeconomic Performance and External Shocks on Small, Open Economies: The Caribbean Experience," Journal of Developing Areas 30 (April 1996): 341-60. Politics in Guyana proceeds along racial lines. Elections are due in 1997. A recent poll shows that 42.5 percent would vote for Cheddi Jagan's People's Progressive Party (PPP); 5.5 percent for Asgar Ally's (East Indian) Guyana Democratic Party; 27 percent for the People's National Congress (PNC); 8.5 percent for the Good and Green Party (Black party); and 4.5 percent for the Working People's Alliance (socialist, independents, intellectuals, etc.). The poll shows that 70 percent of East Indians, 7 percent of Africans, 11 percent of mixed race (essentially Africans), 59 percent of Amerindians, and 32 percent of other races support Jagan (PPP). See the newspaper Caribbean Daylight (Bronx, NY), 16 September 1996, p. 8. East Indians in Guyana are divided into two religious groups, viz., Hindus and Muslims, and some of the prejudices that led to the division of India into Pakistan and India are lingering in Guyana. Ally's party may draw the Muslim vote. Whether democracy or economic reforms will continue following Jagan's death is an unsettled question; there is a slight possibility that the country may move dangerously toward a replay of the 1963 racial civil war fiasco, i.e.,a situation comparable to that in Rwanda could develop. Unless there is a widely recognized and accepted successor to Jagan to lead the PPP, the Hindu-Muslim animosity could potentially lead to a Bosnia-type scenario.
    • (1991) World Development Report 1991 , pp. 138
  • 12
    • 0030424067 scopus 로고    scopus 로고
    • Macroeconomic Performance and External Shocks on Small, Open Economies: The Caribbean Experience
    • April
    • The empirical evidence suggests that countries that control ethnic violence and provide increased opportunities for ethnic minorities tend to have higher rates of economic growth and stability. See World Bank, World Development Report 1991 (New York: Oxford University Press for the World Bank, 1991), p. 138; and John Gafar, "Macroeconomic Performance and External Shocks on Small, Open Economies: The Caribbean Experience," Journal of Developing Areas 30 (April 1996): 341-60. Politics in Guyana proceeds along racial lines. Elections are due in 1997. A recent poll shows that 42.5 percent would vote for Cheddi Jagan's People's Progressive Party (PPP); 5.5 percent for Asgar Ally's (East Indian) Guyana Democratic Party; 27 percent for the People's National Congress (PNC); 8.5 percent for the Good and Green Party (Black party); and 4.5 percent for the Working People's Alliance (socialist, independents, intellectuals, etc.). The poll shows that 70 percent of East Indians, 7 percent of Africans, 11 percent of mixed race (essentially Africans), 59 percent of Amerindians, and 32 percent of other races support Jagan (PPP). See the newspaper Caribbean Daylight (Bronx, NY), 16 September 1996, p. 8. East Indians in Guyana are divided into two religious groups, viz., Hindus and Muslims, and some of the prejudices that led to the division of India into Pakistan and India are lingering in Guyana. Ally's party may draw the Muslim vote. Whether democracy or economic reforms will continue following Jagan's death is an unsettled question; there is a slight possibility that the country may move dangerously toward a replay of the 1963 racial civil war fiasco, i.e.,a situation comparable to that in Rwanda could develop. Unless there is a widely recognized and accepted successor to Jagan to lead the PPP, the Hindu-Muslim animosity could potentially lead to a Bosnia-type scenario.
    • (1996) Journal of Developing Areas , vol.30 , pp. 341-360
    • Gafar, J.1
  • 13
    • 0004111490 scopus 로고    scopus 로고
    • Bronx, NY, 16 September
    • The empirical evidence suggests that countries that control ethnic violence and provide increased opportunities for ethnic minorities tend to have higher rates of economic growth and stability. See World Bank, World Development Report 1991 (New York: Oxford University Press for the World Bank, 1991), p. 138; and John Gafar, "Macroeconomic Performance and External Shocks on Small, Open Economies: The Caribbean Experience," Journal of Developing Areas 30 (April 1996): 341-60. Politics in Guyana proceeds along racial lines. Elections are due in 1997. A recent poll shows that 42.5 percent would vote for Cheddi Jagan's People's Progressive Party (PPP); 5.5 percent for Asgar Ally's (East Indian) Guyana Democratic Party; 27 percent for the People's National Congress (PNC); 8.5 percent for the Good and Green Party (Black party); and 4.5 percent for the Working People's Alliance (socialist, independents, intellectuals, etc.). The poll shows that 70 percent of East Indians, 7 percent of Africans, 11 percent of mixed race (essentially Africans), 59 percent of Amerindians, and 32 percent of other races support Jagan (PPP). See the newspaper Caribbean Daylight (Bronx, NY), 16 September 1996, p. 8. East Indians in Guyana are divided into two religious groups, viz., Hindus and Muslims, and some of the prejudices that led to the division of India into Pakistan and India are lingering in Guyana. Ally's party may draw the Muslim vote. Whether democracy or economic reforms will continue following Jagan's death is an unsettled question; there is a slight possibility that the country may move dangerously toward a replay of the 1963 racial civil war fiasco, i.e.,a situation comparable to that in Rwanda could develop. Unless there is a widely recognized and accepted successor to Jagan to lead the PPP, the Hindu-Muslim animosity could potentially lead to a Bosnia-type scenario.
    • (1996) Caribbean Daylight , pp. 8
  • 14
    • 6144293810 scopus 로고
    • Georgetown: Guyana Printers
    • In his address to a Special Congress of the People's National Congress on 14 December 1974 entitled "Declaration of Sophia," Prime Minister Burnham declared: "We socialists hold that property is for the use and benefit of the society and nation, and not for hoarding, profiteering, and manipulation by private individuals for their own ends and benefits" (p. 17). He continued, "As we move to control land in the interest of the nation, we will take control over all foreign trade - import and export.... Our other exports-bauxite, rice, and forestry products - are already handled by public agencies. This pattern will be extended to all other exports" (p. 19). On the issue of transportation, Burnham decreed, "There will be certain sub-sectors like public transport and communications which must and will be owned and controlled exclusively by the Government" (p. 22). On foreign banking, Burnham noted, "Notice was given since 1970 of our intention to miniaturize foreign owned banks.... and during 1975 [to] bring an end to foreign banks" (p. 25). For details of this address, see Forbes Burnham, Declaration of Sophia (Georgetown: Guyana Printers, 1974).
    • (1974) Declaration of Sophia
    • Burnham, F.1
  • 16
    • 85040959417 scopus 로고
    • Washington, DC: World Bank
    • For a description of the elements of the Economic Recovery Program (ERP), see World Bank, Guyana: From Economic Recovery to Sustained Growth (Washington, DC: World Bank, 1993). The data on debt arrears are taken from McFeeters, "Guyana: Economy in Guyana and Belize," p. 68.
    • (1993) Guyana: From Economic Recovery to Sustained Growth
  • 17
    • 6144272072 scopus 로고    scopus 로고
    • For a description of the elements of the Economic Recovery Program (ERP), see World Bank, Guyana: From Economic Recovery to Sustained Growth (Washington, DC: World Bank, 1993). The data on debt arrears are taken from McFeeters, "Guyana: Economy in Guyana and Belize," p. 68.
    • Guyana: Economy in Guyana and Belize , pp. 68
    • McFeeters1
  • 19
    • 0003820162 scopus 로고    scopus 로고
    • Georgetown: Bank of Guyana, various issues
    • The data are taken from Bank of Guyana, Annual Report (Georgetown: Bank of Guyana), various issues; Statistical Bulletin (Bank of Guyana) (September 1995); Inter-American Development Bank, Economic and Social Progress (Baltimore, MD: Johns Hopkins University Press for Inter-American Development Bank), various issues; International Monetary Fund, International Financial Statistics (Washington, DC: International Monetary Fund), various issues.
    • Annual Report
  • 20
    • 0004252324 scopus 로고
    • (Bank of Guyana) September
    • The data are taken from Bank of Guyana, Annual Report (Georgetown: Bank of Guyana), various issues; Statistical Bulletin (Bank of Guyana) (September 1995); Inter-American Development Bank, Economic and Social Progress (Baltimore, MD: Johns Hopkins University Press for Inter-American Development Bank), various issues; International Monetary Fund, International Financial Statistics (Washington, DC: International Monetary Fund), various issues.
    • (1995) Statistical Bulletin
  • 21
    • 0004014786 scopus 로고    scopus 로고
    • (Baltimore, MD: Johns Hopkins University Press for Inter-American Development Bank), various issues
    • The data are taken from Bank of Guyana, Annual Report (Georgetown: Bank of Guyana), various issues; Statistical Bulletin (Bank of Guyana) (September 1995); Inter-American Development Bank, Economic and Social Progress (Baltimore, MD: Johns Hopkins University Press for Inter-American Development Bank), various issues; International Monetary Fund, International Financial Statistics (Washington, DC: International Monetary Fund), various issues.
    • Economic and Social Progress
  • 22
    • 0003518334 scopus 로고    scopus 로고
    • (Washington, DC: International Monetary Fund), various issues
    • The data are taken from Bank of Guyana, Annual Report (Georgetown: Bank of Guyana), various issues; Statistical Bulletin (Bank of Guyana) (September 1995); Inter-American Development Bank, Economic and Social Progress (Baltimore, MD: Johns Hopkins University Press for Inter-American Development Bank), various issues; International Monetary Fund, International Financial Statistics (Washington, DC: International Monetary Fund), various issues.
    • International Financial Statistics
  • 23
    • 0008562361 scopus 로고
    • A Kennedy-C.I.A. Plot Returns to Haunt Clinton
    • 30 October
    • See article by Tim Weiner, "A Kennedy-C.I.A. Plot Returns to Haunt Clinton," New York Times, 30 October 1994, p. 10, which read in part: Civil servants walked out. The labor unions revolted. Riots took the lives of more than 100 persons. The key was the unions, whose rebellion crippled the Government and the economy. And the unions were taking advice and money from ...American organizations. For the next 20 years the country was governed by Forbes Bumham... an opportunist, racist, and demagogue... [who] held power through force and fraud until his death in 1985. It should be noted that the Jagan years from 1957 to 1964, and the years from 1992 to the present are progrowth years.
    • (1994) New York Times , pp. 10
    • Weiner, T.1
  • 24
    • 0003851583 scopus 로고
    • Report No. 12861-GUA Washington, DC: World Bank
    • World Bank, Guyana: Strategies for Reducing Poverty, Report No. 12861-GUA (Washington, DC: World Bank, 1994), p. 6.
    • (1994) Guyana: Strategies for Reducing Poverty , pp. 6
  • 25
    • 0002596097 scopus 로고    scopus 로고
    • Understanding Economic Policy Reform
    • March
    • Dani Rodrik, "Understanding Economic Policy Reform," Journal of Economic Literature 34 (March 1996): 29.
    • (1996) Journal of Economic Literature , vol.34 , pp. 29
    • Rodrik, D.1
  • 29
    • 0344502147 scopus 로고
    • Lessons from Experience: Structural Adjustment and Poverty in Guyana
    • December
    • See Clive Y. Thomas, "Lessons from Experience: Structural Adjustment and Poverty in Guyana," Social and Economic Studies 42 (December 1993): 147; and World Bank, Guyana: From Economic Recovery to Sustained Growth, pp. 16-17.
    • (1993) Social and Economic Studies , vol.42 , pp. 147
    • Thomas, C.Y.1
  • 30
    • 84906296002 scopus 로고    scopus 로고
    • See Clive Y. Thomas, "Lessons from Experience: Structural Adjustment and Poverty in Guyana," Social and Economic Studies 42 (December 1993): 147; and World Bank, Guyana: From Economic Recovery to Sustained Growth, pp. 16-17.
    • Guyana: From Economic Recovery to Sustained Growth , pp. 16-17
  • 32
    • 6144278106 scopus 로고    scopus 로고
    • Unemployment Wiped Out on Essequibo Coast?
    • (Georgetown), 4 February
    • A newspaper article captioned "Unemployment Wiped Out on Essequibo Coast?" Mirror (Georgetown), 4 February 1996, p. 3, observes: Judging from the shortage of... labour... members of the business community have concluded the once-growing ranks of the unemployed may have been wiped out.... Due to the economic boom in the area from the increased farming... the demand for labour has risen.... Farmers say they pay [G] $600 per day... but they are finding it difficult in recruiting. The Essequibo Coast is a rural area; a wage of G $600 (G $140 = US $1) translates to G $12,000 per month, a figure roughly double the minimum wage for public-sector employees in 1995.
    • (1996) Mirror , pp. 3
  • 36
    • 6144283301 scopus 로고    scopus 로고
    • note
    • According to the Harrod-Doma model, ΔY = aI, where ΔY is the change in real output (i.e., ΔGDP), a is the reciprocal of the incremental capital-output ratio or marginal productivity coefficient, and I is investment. Dividing I by Y yields eq. 1 in the text.
  • 37
    • 6144228949 scopus 로고    scopus 로고
    • note
    • This point was made to me by one of the referees.
  • 40
    • 6144223250 scopus 로고    scopus 로고
    • note
    • Although some variation of a monetary approach to examine the relationship between the fiscal deficit and balance of payments might produce econometric evidence showing the link between domestic credit creation and foreign reserve depletion, we do not believe it would make a significant contribution to our analysis.
  • 43
    • 84937290202 scopus 로고
    • Does Inflation Really Lower Growth?
    • September
    • See Michael Bruno, "Does Inflation Really Lower Growth?" Finance and Development 32 (September 1995): 36.
    • (1995) Finance and Development , vol.32 , pp. 36
    • Bruno, M.1
  • 46
    • 0002160510 scopus 로고    scopus 로고
    • Maintaining Price Stability
    • December
    • See Stanley Fischer, "Maintaining Price Stability," Finance and Development 33 (December 1996): 34-37.
    • (1996) Finance and Development , vol.33 , pp. 34-37
    • Fischer, S.1
  • 50
    • 0042501113 scopus 로고
    • Anticipating Capital Flow Reversals
    • December
    • Uri Dadush and Milan Brahmbhatt, "Anticipating Capital Flow Reversals," Finance and Development 32 (December 1995): 3-5.
    • (1995) Finance and Development , vol.32 , pp. 3-5
    • Dadush, U.1    Brahmbhatt, M.2
  • 51
    • 6144293008 scopus 로고    scopus 로고
    • note
    • The minus sign is correct, but the correlation is weak. A decline in the real exchange rate indicates depreciation (competitiveness).
  • 52
    • 6144287712 scopus 로고    scopus 로고
    • note
    • 2 = 0.37 D.W. = 0.77 which suggests a secular decline. See table 8.
  • 53
    • 0029518287 scopus 로고
    • Some Estimates of the Price and Income Elasticities of Import Demand for Three Caribbean Countries
    • November
    • John Gafar, "Some Estimates of the Price and Income Elasticities of Import Demand for Three Caribbean Countries," Applied Economics 27 (November 1995): 1045-48.
    • (1995) Applied Economics , vol.27 , pp. 1045-1048
    • Gafar, J.1
  • 54
    • 0004284603 scopus 로고
    • New York: W.W. Norton, chaps. 4 and 10
    • For a discussion of this point the reader is referred to Joseph Stiglitz, Economics of the Public Sector (New York: W.W. Norton, 1986), chaps. 4 and 10.
    • (1986) Economics of the Public Sector
    • Stiglitz, J.1
  • 55
    • 0004122978 scopus 로고
    • New York: Oxford University Press
    • Jadgish Bhagwati, India in Transition: Free the Economy (New York: Oxford University Press, 1993), p. 50. Bhagwati's analysis of the situation in India in his chapter "What Went Wrong?" has greatly influenced this section.
    • (1993) India in Transition: Free the Economy , pp. 50
    • Bhagwati, J.1
  • 56
    • 0001804114 scopus 로고
    • Symposium on the State and Economic Development
    • Summer
    • Pranab Bardhan, "Symposium on the State and Economic Development," Journal of Economic Perspectives 4 (Summer 1990): 6.
    • (1990) Journal of Economic Perspectives , vol.4 , pp. 6
    • Bardhan, P.1
  • 57
    • 6144224974 scopus 로고    scopus 로고
    • Why Official Corruption in Guyana Has Continued
    • (Bronx, NY), 18 March
    • In a newspaper article entitled, "Why Official Corruption in Guyana Has Continued," Caribbean Daylight (Bronx, NY), 18 March 1996, David Hinds wrote: The first compelling cause of this cancer is the fact that the PPP did not or could not move against those big boys in the PNC who were up to their necks in corruption.... The other reason for corruption in Guyana is low wages paid to government workers (p. 2).
    • (1996) Caribbean Daylight
    • Hinds, D.1
  • 58
    • 0002964240 scopus 로고
    • Government Failures in Development
    • Summer
    • For an excellent exposition of the role of the state, see Anne Krueger, "Government Failures in Development," Journal of Economic Perspectives 3 (Summer 1990): 9-23.
    • (1990) Journal of Economic Perspectives , vol.3 , pp. 9-23
    • Krueger, A.1
  • 59
    • 85041143269 scopus 로고
    • Washington, DC: World Bank
    • See World Bank, Guyana: Public Sector Review (Washington, DC: World Bank, 1993), pp. 45-46.
    • (1993) Guyana: Public Sector Review , pp. 45-46
  • 60
    • 6144251823 scopus 로고
    • Discussion Papers No. 48 Geneva: United Nations Conference on Trade and Development
    • See Ha-Joon Cheng and Ajit Singh, Public Enterprises in Developing Countries and Economic Efficiency, Discussion Papers No. 48 (Geneva: United Nations Conference on Trade and Development, 1992); and Cem Somel, The State in Economic Activity: Problems of Economic Policy-Making, Discussion Papers No. 67 (Geneva: United Nations Conference on Trade and Development, 1993).
    • (1992) Public Enterprises in Developing Countries and Economic Efficiency
    • Cheng, H.-J.1    Singh, A.2
  • 61
    • 6144237310 scopus 로고
    • Discussion Papers No. 67 Geneva: United Nations Conference on Trade and Development
    • See Ha-Joon Cheng and Ajit Singh, Public Enterprises in Developing Countries and Economic Efficiency, Discussion Papers No. 48 (Geneva: United Nations Conference on Trade and Development, 1992); and Cem Somel, The State in Economic Activity: Problems of Economic Policy-Making, Discussion Papers No. 67 (Geneva: United Nations Conference on Trade and Development, 1993).
    • (1993) The State in Economic Activity: Problems of Economic Policy-Making
    • Somel, C.1
  • 62
    • 0042123787 scopus 로고
    • Report No. 10410 Washington, DC: World Bank
    • World Bank, Guyana: Agriculture Sector Review, Report No. 10410 (Washington, DC: World Bank, 1992), pp. 3-4.
    • (1992) Guyana: Agriculture Sector Review , pp. 3-4
  • 64
    • 0026268174 scopus 로고
    • The Poor and the Social Sectors during a Period of Macroeconomic Adjustment: Empirical Evidence for Jamaica
    • January
    • Jere Behrman and Anil Deolalikar, "The Poor and the Social Sectors during a Period of Macroeconomic Adjustment: Empirical Evidence for Jamaica," World Bank Economic Review 5, (January 1991): 291-313.
    • (1991) World Bank Economic Review , vol.5 , pp. 291-313
    • Behrman, J.1    Deolalikar, A.2
  • 66
    • 6144269923 scopus 로고    scopus 로고
    • Macroeconomic Performance and External Shocks on Small, Open Economies
    • Fall
    • For a statistical analysis of the impact of changes in the terms-of-trade and interest-rate policies on Barbados, Dominican Republic, Guyana, Haiti, Jamaica, and Trinidad and Tobago, see Gafar, "Macroeconomic Performance and External Shocks on Small, Open Economies." The Journal of Developing Areas 31 (Fall 1996) 75-90
    • (1996) The Journal of Developing Areas , vol.31 , pp. 75-90
    • Gafar1


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