Avenues for Rekindling Growth and Prosperity in the Caribbean

Since the late 1980s there has been a growing volume of ground-breaking work on modelling economic growth and the analysis of economic development. Classic theories have been refined, the ideas of classic theories have been formalised, and new methodologies have given us better tools to measure important variables, such as technology and technological capabilities. In this chapter, we review both traditional, or textbook models, and new interpretations of the growth and development process.