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Accelerating Guyana’s Growth Momentum

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  • Grenade, Kari
  • Pasha, Sukrishnalall

Abstract

Guyana has been able to reverse decades of economic decline and stagnation with five consecutive years of robust growth during the period 2006-2010. The study probes whether Guyana has finally turned the corner. The study finds that good policies as well as good luck explain much of the recent growth. In particular, improved governance, sound macroeconomic management and favourable terms of trade have been the key growth propellers. The paper offers strategies to further accelerate growth in the medium to long term, which include increasing economic dynamism, fully exploiting and better utilising natural resources, and strengthening and entrenching good governance.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 41960.

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Date of creation: 01 Feb 2012
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Handle: RePEc:pra:mprapa:41960

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Keywords: economic growth; growth strategies; Caribbean; Guyana;

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  1. Arbache, Jorge Saba & Page, John, 2007. "More growth or fewer collapses ? a new look at long run growth in Sub-Saharan Africa," Policy Research Working Paper Series, The World Bank 4384, The World Bank.
  2. Khemraj, Tarron, 2007. "The missing link: the finance-growth nexus and the Guyanese growth stagnation," MPRA Paper 16342, University Library of Munich, Germany.
  3. Khemraj, Tarron & Hinova, Diana, 2011. "Elected Oligarchy and Economic Underdevelopment: The Case of Guyana," MPRA Paper 29733, University Library of Munich, Germany.
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