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Abstract - Quest for Global Competitiveness - Universidad de Puerto ...

Abstract - Quest for Global Competitiveness - Universidad de Puerto ...

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Demand ConditionsDemand conditions speak to the sophistication and quality of the home country <strong>de</strong>mand.The proxy variables used to capture this concept reflect the transmission mechanismthrough which the quality of home <strong>de</strong>mand is manifested. The two variables that wereused are: the over all size of the local economy and the size of international tra<strong>de</strong>.Jamaica’s position in relation to the most competitive country, Singapore and othersimilar regional economies is presented in the charts below.GDP- US$’billSource: Inter-American Development BankCurrent a/c balance- US$ billSource: IMF- World Economic Outlook Database, October 2008From analyzing this element of Jamaica’s diamond of national competitiveness, the storyshows that the country is not very competitive in its <strong>de</strong>mand conditions. The data showthat Jamaica needs to improve a number of elements (e.g. grow the economy to increase14

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