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  • Topic: Caribbean Economies: Characteristics

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    Francinalanferman
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    Caribbean economies are characterized by monocrop agriculture, small populations and markets, and few natural resources. They face economic problems such as low per capita GNP, unskilled labor, little access to technology, large food imports, poverty, brain drain, underdeveloped infrastructure, and large debt burdens. Developmental strategies for these economies include investing in human capital, attracting foreign direct investment, pursuing export-led growth, providing social services to the poor, and developing entrepreneurship.

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    Caribbean economies

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    Caribbean economies are characterized by monocrop agriculture, small populations and markets, and few natural resources. They face economic problems such as low per capita GNP, unskilled labor, little access to technology, large food imports, poverty, brain drain, underdeveloped infrastructure, and large debt burdens. Developmental strategies for these economies include investing in human capital, attracting foreign direct investment, pursuing export-led growth, providing social services to the poor, and developing entrepreneurship.

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    22 views2 pages

    Topic: Caribbean Economies: Characteristics

    Uploaded by

    Francinalanferman
    Caribbean economies are characterized by monocrop agriculture, small populations and markets, and few natural resources. They face economic problems such as low per capita GNP, unskilled labor, little access to technology, large food imports, poverty, brain drain, underdeveloped infrastructure, and large debt burdens. Developmental strategies for these economies include investing in human capital, attracting foreign direct investment, pursuing export-led growth, providing social services to the poor, and developing entrepreneurship.

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    © All Rights Reserved
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    Topic: Caribbean Economies

    Characteristics
     Monocrop economies
     Small population and market size
     Few or no natural resources
     Large primary sector Economic Problems
     Large informal sector low per capita GNP
     Insufficient arable land unskilled labour
    Little access to technology
    Large food import bill Developmental strategies for Caribbean economies
    Many poor Investment in human capital
    The ‘brain drain’ Foreign direct investment
    Undeveloped infrastructure Export-led growth
    Large debt burden Foreign borrowing
    The provision of social services to the poor
    Entrepreneurial development

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