State, Institutions and Competitiveness: The Urgency of Institutional Capacity-Building in Jamaica

摘要

Globalization has been scape-goated for eroding both the structure and viability of various institutions in countries across the world. The Jamaican economy and society is no different. Globalization is a perennial challenge, forcing all institutions to create innovative ways to overcome existing vulnerabilities. There is reliance on the market and a need to identify the institutional arrangements that would make the 'promotion' or transition to upper-middle-income status easier and sustainable. The many challenges provide opportunities for public and private institutions, in particular, to become competitive in a global environment. This study uses developments from Jamaica's past to demonstrate the impact of state policies, which reflect varying degrees of institutional capacity, on the country's development. It suggests a new institutional path if Jamaica is to be propelled towards an era of competitiveness, sustainable growth and balanced development.