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Private Direct Investment and Development Policy in the Caribbean: Nationalism and Nationalization Scared Away Foreign Investors but Reagan Initiative's Luring Them
Author(s) -
Hope Kempe Ronald
Publication year - 1989
Publication title -
american journal of economics and sociology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.199
H-Index - 38
eISSN - 1536-7150
pISSN - 0002-9246
DOI - 10.1111/j.1536-7150.1989.tb02092.x
Subject(s) - nationalism , foreign direct investment , independence (probability theory) , context (archaeology) , private sector , hostility , investment (military) , economics , political science , economic growth , politics , geography , law , statistics , mathematics , archaeology , medicine , clinical psychology
A bstract .Private direct investment has been on the decline in the Caribbean countries in recent years, and so have been their private sectors. After they achieved independence , governments as well as peoples, because of growing nationalism , developed hostility to foreign investors. But a considerable number of empirical studies have made it overwhelmingly clear that private foreign investment has made a meaningful contribution to their development process and it is clear that this could be true again. Within this context, the Reagan Administration's Caribbean Basin Initiative may make a significant contribution to Caribbean development. At the outset, 285 new projects appear to be creating 36,000 new Jobs in non‐traditional areas of the economy.