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Accelerating Guyana’s Growth Momentum

Author

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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.

Suggested Citation

  • Grenade, Kari & Pasha, Sukrishnalall, 2012. "Accelerating Guyana’s Growth Momentum," MPRA Paper 41960, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:41960
    as

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    File URL: https://mpra.ub.uni-muenchen.de/41960/1/MPRA_paper_41960.pdf
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    References listed on IDEAS

    as
    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 4384, The World Bank.
    2. Khemraj, Tarron & Hinova, Diana, 2011. "Elected Oligarchy and Economic Underdevelopment: The Case of Guyana," MPRA Paper 29733, University Library of Munich, Germany.
    3. Khemraj, Tarron, 2007. "The missing link: the finance-growth nexus and the Guyanese growth stagnation," MPRA Paper 16342, University Library of Munich, Germany.
    4. Judith Gold & Mr. Ruben V Atoyan & Miss Cornelia Staritz, 2007. "Guyana: Why Has Growth Stopped? An Empirical Study on the Stagnation of Economic Growth," IMF Working Papers 2007/086, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Serap Bedir, 2015. "The Asymmetric Impact of Growth Fluctuation on Human Development," Eurasian Journal of Social Sciences, Eurasian Publications, vol. 3(2), pages 24-34.
    2. Bollers, Elton & Pile, Dennis, 2015. "The Nexus between Remittances and Economic Growth: Empirical Evidence from Guyana," MPRA Paper 67756, University Library of Munich, Germany.

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    More about this item

    Keywords

    economic growth; growth strategies; Caribbean; Guyana;
    All these keywords.

    JEL classification:

    • O20 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - General
    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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