This paper examines the convergence experience of selected Caribbean countries. It examines evidence of reduced dispersion in real per capita income—Sigma convergence—and 'catch up' growth across the group—Beta convergence. Estimation of the Solow—Swan cross-section model for the Caribbean shows weak evidence of β and σ convergence. However, structural instability and evidence of divergence over the sample period, suggest this convergence to be spurious. Further tests on individual country data showed an absense of steady state convergence for any country over time. Institutional structures and adjustments to economic shocks appear to have been important for the determination of per capita income in the long run.
A number of writers from the Left, particularly associated with Marxism Today, have suggested that there has been a shift to more right-wing policies and authoritarian and populist forms of government in advanced capitalist countries and that these can be seen as a response to the current world economic crisis. Fiona Atkins suggests that explanations of the shift towards more authoritarian government must take account of recent changes in economic structures and class relations. In particular she argues that it is necessary to recognise the implications of the increasing internationalisation of capital. By referring to third world examples, the author identifies a number of forms of authoritarian regime. The broader frame of reference indicates that a degree of eurocentrism has limited the understanding of authoritarianism in the current British debate.
This paper examines the impact of exchange rate devaluation in an open island economy. By taking account of the non-stationarity of the variables, and identifying the consequent cointegrating relation, the long-run and short-run impacts are identi®ed. The results suggest a signi®cant and negative long-run elasticity of output in response to a devaluation of the real exchange rate. The short-run dynamics indicate that the real exchange rate makes fairly rapid adjustment when there is deviation from the long-run equilibrium relation. Such rapid response to any demand side shocks suggest that the Jamaican economy may be susceptible to Dutch Disease eects.
The following is a short account of the various records used and of the entries necessitated by the purchase of, and subsequent dealing with, Stock Exchange investments. In other words, it endeavours to trace so much of their history as is written in the books of that department of an insurance company which deals with Stock Exchange securities, which may be called for convenience the Investment Department.Such a department would not keep the final books of account which provide the items for the Balance Sheet and other returns, all such information being obtained from the accountants' section. It would, however, decide upon the method of treatment of the many problems which arise in connection with security transactions.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.