Copyright © 2007 International Development Options
All Rights Reserved
Volume Four Winter 2006-Spring 2007 Numbers 3-4.
Theme: Global Labor Migration and Emerging Trends in Development Finance: An Assessment of the
Economic and Social Impact of Migrant (Worker) Remittances in Central America and the Caribbean
CAN THE FINANCIAL SECTOR REALISTICALLY BE EXPECTED TO FOSTER ECONOMIC GROWTH?
AN ANALYSIS OF JAMAICAN STAKEHOLDERS’ VIEWS
David Tennant Claremont Kirton
Lecturer Senior Lecturer
Department of Economics Department of Economics
University of the West Indies University of the West Indies
Mona, Jamaica Mona, Jamaica
West Indies West Indies
Published Online: February 10, 2017
In this article, the authors argue that a critical weakness in the existing empirical work on the finance-growth debate is a failure to adequately assess the operations of financial intermediaries, especially as they relate to stakeholder positions and institutional arrangements. In an attempt to fill this void, the article focuses on the finance–growth debate in the Jamaican context. It examines the views of management of financial institutions, sector regulators and policy-makers. The results of our analysis include information which will allow for further exploration of the finance-growth debate as well as more detailed analyses of the operations of the Jamaican financial sector. In conclusion, the article argues that institutional analysis must guide any planned financial sector reform project.