PIOJ Growth-Inducement Strategy - Planning Institute of Jamaica

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Table 8.5 Jamaica: Global Competitiveness Index (GCI), overall and in detail, 2010-11* Rank Indicator (out of 139) GCI 2010-11 95 GCI 2009-10 (out of 133) 91 GCI 2008-9 (out of 134) 86 A. Basic Requirements 103 1. Institutions 85 Strength of auditing & reporting standards 38 Protection of minority shareholders’ interests 50 Judicial independence 51 Strength of investor protection 59 Transparency of government policy making 64 Ethical behavior of firms 64 Property rights 73 Business costs of terrorism 76 Diversion of public funds 78 Intellectual property protection 79 Irregular payments and bribes 79 Efficiency of legal framework in challenging regulations 81 Efficiency of legal framework in settling disputes 85 Efficacy of corporate boards 91 Wastefulness of government spending 98 Public trust of politicians 107 Reliability of police services 109 Burden of government regulation 112 Favoritism in decisions of government officials 116 Organized crime 134 Business costs of crime & violence 136 2. Infrastructure 65 Quality of port infrastructure 31 Quality of air transport infrastructure 47 Mobile telephone subscriptions 49 Quality of overall infrastructure 64 Quality of roads 71 Available airline seat kilometers 71 Quality of electricity supply 83 Fixed telephone lines 89 Quality of railroad infrastructure n/a 3. Macroeconomic environment 137 National savings rate 75 Country credit rating 89 Interest rate spread 111 Inflation 119 Government budget balance 131 Government debt 132 4. Health and primary education 102 Tuberculosis incidence 18 Business impact of tuberculosis 54 Life expectancy 83 Business impact of malaria 84 Malaria incidence 84 Quality of primary education 89 Infant mortality 91 Business impact of HIV/AIDS 108 HIV prevalence 114 Primary education enrollment rate 119 Rank Indicator (out of 139) B. Efficiency Enhancers 80 5. Higher education & training 80 Extent of staff training 49 Secondary education enrollment rate 55 Quality of management schools 70 Internet access in schools 80 Tertiary education enrollment rate 86 Quality of the educational system 98 Local availability of research & training services 99 Quality of math & science education 115 6. Goods market efficiency 80 Time required to start a business 27 Number of procedures required to start a business 34 Prevalence of foreign ownership 46 Agricultural policy costs 48 Business impact of rules on FDI 51 Prevalence of trade barriers 62 Effectiveness of anti-monopoly policy 62 Buyer sophistication 69 Intensity of local competition 72 Extent of market dominance 93 Trade tariffs 95 Total tax rate 105 Degree of customer orientation 117 Extent & effect of taxation 121 7. Labor market efficiency 83 Rigidity of employment 8 Reliance on professional management 58 Hiring & firing practices 59 Flexibility of wage determination 65 Female participation in labor force 78 Redundancy costs 95 Brain drain 98 Cooperation in labor-employer relations 115 Pay & productivity 116 8. Financial market development 46 Legal rights index 20 Regulation of securities exchanges 23 Restriction on capital flows 47 Soundness of banks 47 Financing through local equity market 47 Availability of financial services 63 Affordability of financial services 95 Venture capital availability 125 Ease of access to loans 128 9. Technological readiness 60 Internet users 38 Availability of latest technologies 52 Broadband internet subscriptions 72 Firm-level technology absorption 75 Internet bandwith 78 FDI and technology transfer 90 Continued …. 127
Table 8.5 (continued) Rank Indicator (out of 139) 10. Market size 99 Domestic market size index 97 Foreign market size index 104 C. Innovation & Sophistication Factors 86 11. Business sophistication 81 Nature of competitive advantage 31 State of cluster development 79 Extent of marketing 82 Value chain breadth 83 Local supplier quality 84 Willingness to delegate authority 89 Production process sophistication 92 Control of international distribution 102 Local supplier quantity 111 12. Innovation 93 Utility patents per million population 53 University-industry collaboration in R&D 66 Quality of scientific research institutions 67 Company spending on R&D 83 Government procurement of advanced tech products 92 Capacity for innovation 107 Availability of scientists & engineers 123 * Details listed by order of rank within each “pillar”. Source: The Global Competitiveness Report 2010- 2011, World Economic Forum. 128
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i A GROWTH-INDUCEMENT STRATEGY FOR
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To the many ordinary Jamaicans who
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Preface The Jamaican economy has ex
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for making a determined start on th
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the private sector groups, listed b
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Citibank N.A. Jamaica Branch Grace
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need for “additional fiscal space
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Chapter 2 ________________ Summary
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1.0 The Economic Situation Today 1.
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expected to provide an essential an
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Table 2.1. The Policy Framework: A
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programme of social inclusion that
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Strategic Focus Table 2.2. Growth S
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6.0 Short-Term Growth Stimulus 6.1
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decline of 2.0 - 2.2 percentage poi
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Table 2A.2. NWA Projects To be Fast
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Table 2A.5. Community Renewal Proje
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Table 2B.3. Impact of Repairing Far
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Appendix 2C Methodology of the Grow
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Part I _________ Overview 28
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2.0 Vision 2030 Jamaica Before delv
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3.0 May 2010 Security Event and Aft
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the longer than anticipated global
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April July October January April Ju
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Three industries recorded increases
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9.0 Proposals for Growth-Stimulus I
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targeted economic and social infras
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partnering with government to disco
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3.0 Growth Inducement Strategy The
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Growth-Inducement Strategy Alignmen
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50 Part II _________ Situational An
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inadequate provision of public infr
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2.0 Macroeconomic Assessment 2.1 In
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Increased global oil consumption wa
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$4,742.0 million and $688.4 million
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Non -Traditional Domestic Exports E
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negative impact of the Jamaica Debt
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ethanol and paint, whereas lower de
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Analysis of preliminary GCT data re
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The number of ship calls to the isl
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industry was, however, estimated to
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4.0 Projected Performance 4.1 Calen
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increased marketing and extension s
Page 87 and 88: Electricity & Water For FY 2010/11,
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Page 93 and 94: Chapter 6 ________________ Assessme
Page 95 and 96: creates allocative inefficiencies,
Page 97 and 98: Million $ Per cent Jun-10 Mar-10 De
Page 99 and 100: Table 6.1. Employed Labour Force by
Page 101 and 102: J$ million Mar-10 Dec-09 Sep-09 Jun
Page 103 and 104: FIGURE 7: GROSS NATIONAL SAVINGS RA
Page 105 and 106: 4.10.2. However, the extent of the
Page 107 and 108: Part III ____________ Analytical Fr
Page 109 and 110: functional relationship between the
Page 111 and 112: It follows that: (5) s = I/Y = [S -
Page 113 and 114: However, the existence of measureme
Page 115 and 116: (d) v* = Y*/K* This is a measure of
Page 117 and 118: in Chapter 8. The mutual interactio
Page 119 and 120: Transforming the complex set of str
Page 121 and 122: Appendix 7A A Methodological Note T
Page 123 and 124: Chapter 8 ____________________ Asse
Page 125 and 126: The DBI focuses more narrowly on qu
Page 127 and 128: to ask, is it possible to predict g
Page 129 and 130: can be made to serve a very useful
Page 131 and 132: For further elaboration of the cons
Page 133 and 134: progressive Jamaica-based firms and
Page 135 and 136: Table 8.2. Jamaica: Doing Business,
Page 137: Table 8.4. Global Competitiveness I
Page 141 and 142: Rank* Constraint Table 8.7 Business
Page 143 and 144: Chapter 9 ___________________ Inter
Page 145 and 146: 3.0 The Burdens of LAC’s Logistic
Page 147 and 148: conditions. These combined with a p
Page 149 and 150: Figure 9.4. Proportion of Primary A
Page 151 and 152: 6.0 Logistics are Essential for Tou
Page 153 and 154: 7.0 Fundamental Steps Forward for J
Page 155 and 156: Part IV ________________ Policies a
Page 157 and 158: Current Status: Cabinet by decision
Page 159 and 160: e more than compensated for by the
Page 161 and 162: B ____________________ Eliminating
Page 163 and 164: Commercial Bank loan rates have als
Page 165 and 166: 5.0 Expected Outcomes These measure
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Page 171 and 172: Table C.1. Proposed Implementation
Page 173 and 174: Locally, the Scientific Research Co
Page 175 and 176: Develop formal and informal links t
Page 177 and 178: D ____________________ Business Pro
Page 179 and 180: 5.0 Recommendations Based on the ma
Page 181 and 182: 2.5 Coexistent with the levels of u
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Page 185 and 186: Table E.2. Unemployed Labour Force
Page 187 and 188: indirect losses experienced when th
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Table F.1 (continued) Area Type of
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G ____________________ Community Re
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Figure G.1 Community Renewal Progra
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Table G.1 Priority Initiatives Obje
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Table G.2 Phased Implementation Pla
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H ____________________ Proposed Wes
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3.0 Transparency Guarantees By desi
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and Coordinating Unit (PCMU) was es
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therefore need to have sanctioned o
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Figure I.1. Functions of National P
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The rationalisation was guided by t
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deliver services in an efficient an
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efurbishing to allow for accommodat
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Part V _______________ Panelists’
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With the benefit of hindsight, some
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ight. Where we as a society fail is
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and exclusion of the majority of th
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the elders, youth, children. What f
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C __________________ Enhancing Nati
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Figure C.1. National resilience is
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