Economics

February, 2014
CAPRI
Thematic Area: 

There has been a recent outcry in Jamaica against the high and increasing fees and charges being levied by banks on some of their services. The fees attracting most attention are those that relate to basic transactions such as withdrawing cash from another bank’s ATM or stopping payment on a cheque. Charges on fairly common misdemeanours, such as writing a cheque that subsequently bounces or incurring an overdra on an account are also frequently identified as being exorbitant.i Because these fees and charges are levied on fairly commonplace activities, the cumulative effect on an individual or firm can be high, and the aggregate macroeconomic effect through heightened transactions costs cannot be ignored. 

 

October, 2007
CAPRI
Thematic Area: 

Research on the relationship between crime and the economy in Jamaica found two key links. One is that crime directly retards economic growth. The second is that the high rate of violent crime, apparently connected to high levels of interpersonal trust and low levels of confidence in the organs of the State - the olice and court system - heightens transaction costs and therefore diminishes economic activity. Given the apparent connection between violent crime and the loss of confidence in the state, an effective strategy to tackle crime thereby necessitates a restoration of this confidence. 

October, 2016
Natallie Rochester King
Thematic Area: 

The re-establishment of diplomatic relations between the United States and Cuba, and their agenda for normalising relations hold more opportunities than threats for Jamaica. The changes in the U.S.-Cuba relationship strengthen the already positive climate for economic growth and investment in the relatively large and diverse Cuban market, and will support that country’s progressive investment policy reforms and growth in private enterprise. The prospect of further growth in the Cuban economy is an opportunity for revival of the Jamaican economy. 

 

September, 2016
Patrice Whitely
Thematic Area: 
The purpose of this study is to identify ways to improve tax compliance in Jamaica. In order to do so, a survey of literature in
tax compliance was conducted to ascertain the techniques that have and have not been working in other countries. Recent
reforms implemented by the tax authority in Jamaica, Tax Administration Jamaica (TAJ), were then identified and compared with
international best practice.

There is an increasingly global consensus regarding the comparative merits of, and shift towards the adoption of electronic Government-to-Person (G2P) payments to replace cash. The emergence of the mobile phone as a low-cost, pervasive payments channel has fuelled this momentum. This study examines and presents considerations for the adoption of mobile G2P payments for the delivery of PATH benefits in Jamaica. Through the analysis of several country case studies and an examination of Jamaica’s current economic landscape and policy imperatives, the study makes the case for the use of a PPP-model of engagement for implementing a mobile PATH payments system that could become the cornerstone of a robust national mobile payments ecosystem.

Open Data has emerged as a progressive approach to issues of fiscal transparency, public sector efficiency and new job creation. Open Government Data (OGD) refers to government data and information that has been created or commissioned by a public entity which is made accessible for public use and reuse. While preliminary work has been undertaken in the Caribbean to explore the potential for open-data enabled interventions none of these studies have attempted to quantify the economic value associated with these open data opportunities. Specifically, this paper presents an estimation of the potential economic contribution of Open Data to the education, tourism and agricultural sectors, culminating with generic guidelines for developing Jamaica’s Open Data policy.

February, 2016
CaPRI
Thematic Area: 
The Caribbean, more than any other region in the world, now faces a threat that has severe implications for its economic viability. This threat is the termination of Correspondent Banking Relationships (CBRs). Amidst concerns about money laundering and the financing of terrorism (ML/FT), several correspondent banks have been terminating or restricting business relationships with clients or categories of clients to avoid, rather than manage, the inherent risk. This action, referred to as ‘de-risking’ or ‘de-banking’, is a challenge that requires urgent and coordinated action from Caribbean economic, regulatory, and political leadership. This report therefore examines the underlying drivers of de-risking in the Caribbean, examines the impact of de-risking on the region, and proposes measures that can be taken to help to address the problem.

An overview of the insolvency regime in Jamaica and a proposal for the corporate rescue and rehabilitation reforms based on the best practices for insolvency, bankruptcy, receivership and administration in the Caribbean, U.K., Canada and the U.S.A.

Over the last decade, scrap metal theft has emerged as an epidemic across the globe. This paper draws lessons from the international scrap metal experience to inform the Jamaican context and makes policy recommendations for the effective regulation of the industry.

This paper evaluates the value of social partnerships as a governance tool for the Commonwealth Caribbean by examining the experiences of Botswana, Ireland and Barbados, as well as the less-than-successful attempts to implement a social partnership in Jamaica.

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