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The Economics of Development in Small Countries

The Economics of Development in Small Countries

With Special Reference to the Caribbean

by William G. Demas

Foreword by Compton Bourne

Introduction by Hilary McD. Beckles

176 Pages

Paperback
9789766402235
Published: June 2009

$27.00

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Contents
Authors
Excerpt

First published in 1965, this classic work by William Demas, former president of the Caribbean Development Bank and committed regional integrationist, was released in a limited edition and has been widely unavailable for decades.

Adapted from a four-lecture series presented at McGill University in 1964, The Economics of Development in Small Countries deals with the special problems faced in analysing the economics of small countries and seeks to apply these concepts to West Indian economies. Demas’s thesis is that economic development and the achievement of self-sustained growth cannot be considered in isolation from the size of the country.

This edition includes a new introduction by Sir Hilary McD. Beckles, in which he considers the groundbreaking work in the context of nearly forty-five years of regional development and finds as relevant and important today as it was in 1965.

Co-published with the Caribbean Development Bank

List of Tables

Foreword
Compton Bourne

Introduction
Hilary McD. Beckles

Foreword to the First Edition
Irving Brecher

Preface to the First Edition

PART 1 – THE GENERAL FRAMEWORK
1. Criteria of Underdevelopment and Self-sustained Growth
2. Underdevelopment and Self-sustained Growth in Small Countries

PART 2. APPLICATION TO THE CARIBBEAN
3. Characteristics of the Caribbean Economics
4. Problems of Economic Planning in the Caribbean

TABLES
1. Caribbean Population Data
2. G.D.P., G.N.P. and National Income
3. Characteristics of Foreign Trade
4. Capital Formation in the Caribbean
5. Industrial Origin of Gross Domestic Product
6. Employment by Sectors

William G. Demas was the first Secretary General of CARICOM, 1973–1974, and President of the Caribbean Development Bank, 1974–1987.

Compton Bourne is Professor Emeritus of Economics, The University of the West Indies, former President, Caribbean Development Bank, former Campus Principal (St Augustine) and Pro Vice-Chancellor, The University of the West Indies.

HILARY McD. BECKLES is Professor of Economic and Social History and Vice-Chancellor, University of the West Indies. His many publications include Britain’s Black Debt: Reparations for Caribbean Slavery and Native Genocide; A Nation Imagined: The First West Indies Test Tour, 1928; and Freedoms Won: Emancipation, Identity and Nationhood in the Caribbean.

“There are few scholarly works that have had such a profound influence on the economics profession’s understanding of the problem of economic development of small and micro-sized countries as William G. Demas’s The Economics of Development in Small Countries.”

–From the foreword by Dr Compton Bourne, President, Caribbean Development Bank