NATIONAL WORKSHOP

GLOBALISATION, LIBERALISATION AND SUSTAINABLE HUMAN DEVELOPMENT IN

JAMAICA

February 20 - 21 2001JamaicaDavid E. Bloom

Strong Team

• Jagdish Saigal• Gillian Lindsay-Nanton• Ajay Mahal• Damien King• Fiorina Mugione• Aldrie Henry-Lee• Dillon Alleyne• Philip Castillo• River Path Associates

A Complex Challenge

• Multi-sectoral problems require multi-sectoral solutions

• “one-size fits all” mentality not enough

Virtuous spirals

The Three Spheres

Sustainable human

development

Liberalization

Consistent economic

growth

The Three Spheres

• Globalization– integration of national economies

• Liberalization– lowering barriers to trade &

investment

• Sustainable human development– long, healthy, decent lives

The Three Spheres

• Ultimate objective – sustainable human development

• Potential enablers – liberalization and globalization

• Need:– carefully managed integration into

new global economy

Jamaica

• Problems and opportunities• Developing a vision• Delivering a future

www.undp.org/fojam

Country reports & Synthesis paper

Poor Economic Performance

• Income per capita – flat for three decades

• 1970 = 40% of Singapore average income

• Today = 33% of average income of bottom 20% of Singapore

Expansion vs Contraction

• Liberalization – impulse to grow• Human development – impulse to

grow• Monetary policy – impulse to

contract

Manufacturing/Services Productivity

• 1995 baseline, GDP per capita:– US $1658 (J$74,942)

• 1: constant i.e.no fall from 1970-1995:– US $2103 (J$95,056)

• 2: growth at same rate as comparison group:– US $3501 (J$158,245)

• 3: Jamaica as productive as comparison group:– US $6553 (J$296,196)

New World

• New global economy – more competitive– less forgiving– new opportunities

The Brand

• Added value in a global market from:– landscape– culture– people– energy– style

“Out of many policies, one future”