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Jamaica Workshop: Globalization, Liberalization & Sustainable Development

Explore the challenges and solutions for sustainable human development in Jamaica through globalization and liberalization. Learn about the virtuous spirals created by consistent economic growth and the need for carefully managed integration into the new global economy.

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Jamaica Workshop: Globalization, Liberalization & Sustainable Development

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  1. NATIONAL WORKSHOPGLOBALISATION, LIBERALISATION AND SUSTAINABLE HUMAN DEVELOPMENT IN JAMAICAFebruary 20 - 21 2001Jamaica David E. Bloom

  2. Strong Team • Jagdish Saigal • Gillian Lindsay-Nanton • Ajay Mahal • Damien King • Fiorina Mugione • Aldrie Henry-Lee • Dillon Alleyne • Philip Castillo • River Path Associates

  3. A Complex Challenge • Multi-sectoral problems require multi-sectoral solutions • “one-size fits all” mentality not enough

  4. Virtuous spirals

  5. The Three Spheres Liberalization Consistent economic growth Sustainable human development

  6. The Three Spheres • Globalization • integration of national economies • Liberalization • lowering barriers to trade & investment • Sustainable human development • long, healthy, decent lives

  7. The Three Spheres • Ultimate objective • sustainable human development • Potential enablers • liberalization and globalization • Need: • carefully managed integration into new global economy

  8. Jamaica • Problems and opportunities • Developing a vision • Delivering a future

  9. Country reports & Synthesis paper www.undp.org/fojam

  10. Poor Economic Performance • Income per capita – flat for three decades • 1970 = 40% of Singapore average income • Today = 33% of average income of bottom 20% of Singapore

  11. Expansion vs Contraction • Liberalization – impulse to grow • Human development – impulse to grow • Monetary policy – impulse to contract

  12. Manufacturing/Services Productivity • 1995 baseline, GDP per capita: • US $1658 (J$74,942) • 1: constant i.e.no fall from 1970-1995: • US $2103 (J$95,056) • 2: growth at same rate as comparison group: • US $3501 (J$158,245) • 3: Jamaica as productive as comparison group: • US $6553 (J$296,196)

  13. New World • New global economy • more competitive • less forgiving • new opportunities

  14. The Brand • Added value in a global market from: • landscape • culture • people • energy • style

  15. “Out of many policies, one future”

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