CrHben D ue Uvilates on the Economiesof Jamaica, Trinidad& Tobago and The Bahamas ARCHIV 120268 lo. 2 April - June 2004 1DRC CARIBBEAN DIALOGUE UPDATES ON THE ECONOMIES OF JAMAICA, TRINIDAD AND TOBAGO AND THE BAHAMAS r — — — — — — — — — — — — — — — — — — — — — — — — — — I I 1 CARIBBEAN DIALOGUE AJournalof i Contemporary Caribbean Policy Issues i I I I I I April-June2004 Vol. 9 No. 2 I I I I I I I I EDITORIAL STAFF EDITORIAL BOARD I I I I GuestEditor: TaimoonStewart NevilleDuncan I Assistant Editor: Roy McCree Andrew Downes I I CaribbeanDialogue isdevoted to commentary,analysis and informationon contemporary Caribbeanpolicy issues. It welcomes contributionson policy issues from scholars andthe I policy-making community inthe Caribbean,the CaribbeanDiaspora and LatinAmerica. I I I I Publishedquarterly by the Institute ofSocial andEconomic Studies. Copyright © 2004 I I Instituteof Social andEconomic Studies. I I I I I I I I I I EDITORIAL AND CIRCULATION OFFICES: I I I Sir Arthur Lewis Institute of Social and Economic Studies I i The Universityof the West Indies I St. Trinidad I Augustine, u Trinidad and Tobago, WI. I I Fax No: 1-868-645-6329 I I Email:
[email protected] I I I I I I I I I I. — — — — — — — — — — — — — — — — — — — — — — — — — — — — — J (iii) Table of Contents Page No. Update on the Economy ofJamaica - Rosalea Hamiltonand Ann-Marie Grant 1 Update on the Economy ofTrinidad and Tobago - Alisha Abraham and Taimoon Stewart 59 Update on the Economy ofThe Bahamas - Central Bank ofBahamas 87 The Bahamas:A Different Historical Experience from the Rest ofCARICOM - Taimoon Stewart 119 (v) Foreword The articles in this publicationwere produced as background papers in the project,"An EmpiricalExamination of Competition Issues in SelectedCARICOM Countries: TowardsPolicy Formulation." Six countries were studied:Belize, The Bahamas, Jamaica, St.