This book analyzes the main causes of deterioration in the Jamaican
economy since 1972 and assesses the prospects for returning to a
period of stable growth under an International Monetary Fund
Stabilization program. Considering both the role of international
economic conditions and domestic policies on Jamaica's economic
decline, Dr. Looney compares the viability of the socialist model
of development, implemented between 1972 and 1980, with that of the
U.S.-sponsored supply side model. He raises important questions
about the ability of small open economies to sustain acceptable
rates of growth in the existing world economic environment, the
effectiveness of IMF Stabilization programs on these economies, the
possible impact of supply side development strategies, and the
significance of Caribbean Basin Initiative policies for growth and
stability in the area.
General
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