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Economic Policy toward the Caribbean Basin: The Balance Sheet

Published online by Cambridge University Press:  02 January 2018

Richard S. Newfarmer
Richard S. Newfarmer*
Affiliation:
University of Notre Dame
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Extract

The Caribbean Basin surged into political prominence shortly before the inauguration of Ronald Reagan in 1981. Growth throughout the region had collapsed under the weight of the second round of oil price hikes, recession in the United States and other industrialized countries, falling commodity prices, and rising interest rates. Public policy responses in most countries compounded these difficulties by failing to adjust rapidly enough to the external situation or to adopt the structural reforms needed to ensure broadly based growth on a sustainable basis. In the eyes of the administration, improving the economic situation was central to defusing the security threat it perceived in the political developments of several countries in the region.

Type
Research Article
Information
Journal of Interamerican Studies and World Affairs , Volume 27 , Issue 1 , February 1985 , pp. 63 - 89
Copyright
Copyright © University of Miami 1985

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