IDEAS home Printed from https://ideas.repec.org/p/imf/imfwpa/2014-115.html

Labor Market Issues in the Caribbean: Scope to Mobilize Employment Growth

Author

Listed:
  • Ms. Magda E. Kandil
  • Mrs. Genevieve M Lindow
  • Mr. Mario Mansilla
  • Mr. Joel Chiedu Okwuokei
  • Jochen M. Schmittmann
  • Qiaoe Chen
  • Xin Li
  • Marika Santoro
  • Solomon Stavis

Abstract

The paper examines the determinants of employment growth, drawing on data available across a sample of Caribbean countries. To that end, the paper analyzes estimates of the employment-output elasticity and the response of employment growth to major sources of labor market determinants, in the long and short run. The main determinants of employment include government investment and private sector credit, while the major determinants of external performance are real effective exchange rate, the price of major exporting commodities, the number of tourists, and growth in major trading partners. The paper concludes with a menu of policy recommendations and structural reforms towards sustaining high employment growth and higher living standards in the Caribbean.

Suggested Citation

  • Ms. Magda E. Kandil & Mrs. Genevieve M Lindow & Mr. Mario Mansilla & Mr. Joel Chiedu Okwuokei & Jochen M. Schmittmann & Qiaoe Chen & Xin Li & Marika Santoro & Solomon Stavis, 2014. "Labor Market Issues in the Caribbean: Scope to Mobilize Employment Growth," IMF Working Papers 2014/115, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2014/115
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=41692
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Downes, Andrew S., 2006. "Caribbean labour market challenges and policies," Macroeconomía del Desarrollo 5410, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    2. repec:ilo:ilowps:351410 is not listed on IDEAS
    3. Kandil, Magda & Mirzaie, Aghdas, 2002. "Exchange rate fluctuations and disaggregated economic activity in the US: theory and evidence," Journal of International Money and Finance, Elsevier, vol. 21(1), pages 1-31, February.
    4. repec:ilo:ilowps:351408 is not listed on IDEAS
    5. Davide Furceri & Ernesto Crivelli & Mr. Joël Toujas-Bernate, 2012. "Can Policies Affect Employment Intensity of Growth? A Cross-Country Analysis," IMF Working Papers 2012/218, International Monetary Fund.
    6. Fashoyin, Tayo., 2001. "Social dialogue and social and economic development," ILO Working Papers 993514103402676, International Labour Organization.
    7. Abdih, Yasser & Behar, Alberto & Cevik, Serhan & Chami, Ralph & Dougherty-Choux, Lisa & Furceri, Davide & Janus, Nick & Zimand, Paul, 2012. "A Template for Analyzing and Projecting Labor Market Indicators," MPRA Paper 82682, University Library of Munich, Germany.
    8. Mr. Ebrima A Faal, 2003. "Currency Demand, the Underground Economy, and, Tax Evasion—The Case of Guyana," IMF Working Papers 2003/007, International Monetary Fund.
    9. World Bank, "undated". "Middle East and North Africa Economic Developments and Prospects, September 2011 : Investing for Growth and Jobs [Région Moyen-Orient et Afrique du Nord de la Banque mondiale : Évolution et perspec," World Bank Publications - Reports 12434, The World Bank Group.
    10. Fashoyin, Tayo., 2001. "Barbados : fostering economic development through social partnership," ILO Working Papers 993514083402676, International Labour Organization.
    11. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
    12. Márquez, Gustavo & Pagés, Carmen, 1998. "Ties That Bind: Employment Protection and Labor Market Outcomes in Latin America," IDB Publications (Working Papers) 1091, Inter-American Development Bank.
    13. repec:ilo:ilowps:343576 is not listed on IDEAS
    14. Strobl, Eric & Walsh, Frank, 2002. "Getting It Right: Employment Subsidy or Minimum Wage?," IZA Discussion Papers 662, Institute of Labor Economics (IZA).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Mr. A. E. Wayne Mitchell & Ronald James & Ann Marie Wickham, 2019. "Government Wage Bill Management and Civil Service Reform in the Eastern Caribbean Currency Union," IMF Working Papers 2019/110, International Monetary Fund.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mr. Alberto Behar, 2015. "Comparing the Employment-Output Elasticities of Expatriates and Nationals in the Gulf Cooperation Council," IMF Working Papers 2015/191, International Monetary Fund.
    2. Le Viet Trung & Nguyen Thi Thuy Vinh, 2011. "The impact of oil prices, real effective exchange rate and inflation on economic activity: Novel evidence for Vietnam," Discussion Paper Series DP2011-09, Research Institute for Economics & Business Administration, Kobe University.
    3. Mr. Ralph Chami, 2012. "A Template for Analyzing and Projecting Labor Market Indicators," IMF Technical Notes and Manuals 2012/001, International Monetary Fund.
    4. Alleyne, Dillon & Dookie, Michele & Hendrickson, Michael & Lugay, Beverly & Sergeant, Kelvin A. & Seuleiman, Océane, 2011. "Review of selected areas of research on the Caribbean subregion in the 2000s: identifying the main gaps," Documentos de Proyectos 4089, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    5. Czujack, Corinna & Flôres Junior, Renato Galvão & Ginsburgh, Victor, 1995. "On long-run price comovements between paintings and prints," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 269, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
    6. Santos, João & Domingos, Tiago & Sousa, Tânia & St. Aubyn, Miguel, 2016. "Does a small cost share reflect a negligible role for energy in economic production? Testing for aggregate production functions including capital, labor, and useful exergy through a cointegration-base," MPRA Paper 70850, University Library of Munich, Germany.
    7. Bloch, Harry & Rafiq, Shuddhasattwa & Salim, Ruhul, 2015. "Economic growth with coal, oil and renewable energy consumption in China: Prospects for fuel substitution," Economic Modelling, Elsevier, vol. 44(C), pages 104-115.
    8. Law, Siong Hook & Tan, Hui & baharumshah, ahmad, 1999. "Financial Liberalization in ASEAN and the Fisher Hypothesis," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 33, pages 65-86.
    9. Gevorkyan, Arkady & Semmler, Willi, 2016. "Oil price, overleveraging and shakeout in the shale energy sector — Game changers in the oil industry," Economic Modelling, Elsevier, vol. 54(C), pages 244-259.
    10. Md.Yousuf & Raju Ahmed & Nasrin Akther Lubna & Shah Md. Sumon, 2019. "Estimating the Services Sector Impact on Economic Growth of Bangladesh: An Econometric Investigation," Asian Journal of Economic Modelling, Asian Economic and Social Society, vol. 7(2), pages 62-72, June.
    11. Jason Allen & Robert Amano & David P. Byrne & Allan W. Gregory, 2009. "Canadian city housing prices and urban market segmentation," Canadian Journal of Economics, Canadian Economics Association, vol. 42(3), pages 1132-1149, August.
    12. Vassilis Monastiriotis & Cigdem Borke Tunali, 2020. "The Sustainability of External Imbalances in the European Periphery," Open Economies Review, Springer, vol. 31(2), pages 273-294, April.
    13. Zamani, Mehrzad, 2007. "Energy consumption and economic activities in Iran," Energy Economics, Elsevier, vol. 29(6), pages 1135-1140, November.
    14. Muhammad Shafiullah & Ravinthirakumaran Navaratnam, 2016. "Do Bangladesh and Sri Lanka Enjoy Export-Led Growth? A Comparison of Two Small South Asian Economies," South Asia Economic Journal, Institute of Policy Studies of Sri Lanka, vol. 17(1), pages 114-132, March.
    15. Xu, Haifeng & Hamori, Shigeyuki, 2012. "Dynamic linkages of stock prices between the BRICs and the United States: Effects of the 2008–09 financial crisis," Journal of Asian Economics, Elsevier, vol. 23(4), pages 344-352.
    16. Baillie, Richard T & Bollerslev, Tim, 1994. "Cointegration, Fractional Cointegration, and Exchange Rate Dynamics," Journal of Finance, American Finance Association, vol. 49(2), pages 737-745, June.
    17. Gruener Hans Peter & Hayo Bernd & Hefeker Carsten, 2009. "Unions, Wage Setting and Monetary Policy Uncertainty," The B.E. Journal of Macroeconomics, De Gruyter, vol. 9(1), pages 1-25, October.
    18. repec:ebl:ecbull:v:6:y:2004:i:4:p:1-8 is not listed on IDEAS
    19. Titus O. Awokuse, 2003. "Is the export-led growth hypothesis valid for Canada?," Canadian Journal of Economics, Canadian Economics Association, vol. 36(1), pages 126-136, February.
    20. Zheng, Li & Abbasi, Kashif Raza & Salem, Sultan & Irfan, Muhammad & Alvarado, Rafael & Lv, Kangjuan, 2022. "How technological innovation and institutional quality affect sectoral energy consumption in Pakistan? Fresh policy insights from novel econometric approach," Technological Forecasting and Social Change, Elsevier, vol. 183(C).
    21. Yap, Wei Yim & Lam, Jasmine S.L., 2006. "Competition dynamics between container ports in East Asia," Transportation Research Part A: Policy and Practice, Elsevier, vol. 40(1), pages 35-51, January.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfwpa:2014/115. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.