Centro de Investigaciones Económicas - CINVE

Jamaica’s need to appropriate economic value
    • Beverley Morgan
    • 10/2013

    Introduction

    The growth in services has become a significant part of the global economy, with services accounting for an increasingly significant proportion of nations’ GDP and international trade (Gallouj & Djellal, 2010; Florida, 2004).  In the Caribbean and Latin America, services account for approximately sixty percent of employment but reflect low levels of productivity and contribution to GDP, relative their size in the regions’ economies (Tacsir, et al, 2011).  In the case of Small Island Developing States (SIDS), the role, actual and potential, played by services assumes particular importance.   These SIDS are generally poor in the traditional factors of production, and have a limited range of tradable products.  In these economies the services sector is dominated, typically, by tourism (MIF, 2007) while, on the other hand, cultural services have tended to be largely the domain of the developed world (DCMS, 2007).

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