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Barbados: Vital to Canada¡¦s Global Competiveness?

Author

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  • Walid Hejazi

    (International Business at Rotman in Canada)

Abstract

After decades of being an important host economy for FDI, Canada has been transformed to an important home economy. That is, Canadian outward FDI has grown far more rapidly than inward. Since 1997, Canada has been a net exporter of capital. A closer look at Canadian outward FDI reveals that Canadian companies are increasingly using offshore financial centers (OFCs) as conduits into the global economy, with Barbados emerging as the most important. The analysis presented demonstrates that the complementarity between outward FDI and exports documented elsewhere not only continues to hold when Barbados is used as a conduit, but in fact the complementarity effects are stronger. The evidence presented concludes that the use of Barbados as a conduit can be linked to 26,000 and 31,000 additional jobs in Canada. As such, governments should work to deepen relationships with OFCs that have enhanced transparency and exchange of information agreements, with Barbados serving as the model jurisdiction.

Suggested Citation

  • Walid Hejazi, 2015. "Barbados: Vital to Canada¡¦s Global Competiveness?," Transnational Corporations Review, Ottawa United Learning Academy, vol. 7(1), pages 22-43, March.
    • Handle: RePEc:oul:tncr09:v:7:y:2015:i:1:p:22-43
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