The main objectives of this study are to identify a set of initiatives which can strengthen the region’s growth performance over the medium to long-term and assist the CDB and its Borrowing Member Countries (BMCs) in formulating productivity and growth initiatives as part of national and regional macroeconomic and development plans. The study focuses on four (4) main elements in the productivity and growth process: foreign direct investment; information and communications technology especially in the context of micro, small and medium-sized enterprises (MSMEs); research and development and innovation particularly at the enterprise level; and the adoption of industrial clustering to promote innovation and productivity. These elements constitute important components of a “knowledge economy” and underlie the productivity and growth process. The basic analytical framework of the study is the Schumpeterian model of growth and development within the context of an open economy. Such a framework incorporates the role of research and development and innovation in productivity and growth and also takes into consideration both macroeconomic and enterprise elements.
CDB ENHANCING PRODUCTIVITY AND GROWTH IN THE CARIBBEAN 2017 (PDF Download Available). Available from: https://www.researchgate.net/publication/322100695_CDB_ENHANCING_PRODUCTIVITY_AND_GROWTH_IN_THE_CARIBBEAN_2017 [accessed Jan 04 2018].