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Barriers to Enterprise Development in the Caribbean

Drinkwater, Stephen, Lashley, Jonathan, Robinson, Catherine (2018) Barriers to Enterprise Development in the Caribbean. Entrepreneurship and Regional Development, 30 (9-10). pp. 942-963. ISSN 0898-5626. E-ISSN 1464-5114. (doi:10.1080/08985626.2018.1515821) (KAR id:66015)

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https://dx.doi.org/10.1080/08985626.2018.1515821

Abstract

Caribbean economies have suffered from stagnant growth since the 1990s. This can be a feature of small developing economies and is a major concern for policy-makers. In this paper, we examine establishment-level data to gain a better understanding of the factors that constrain the growth of businesses in the region. In addition to documenting broad differences in obstacles to business within and across the region, we particularly focus on the main obstacles affecting small and medium-sized firms. The econometric analysis highlights three main barriers at a regional level: an inadequately educated workforce; access to finance; and crime, theft and disorder. However, there are variations at the country level and the analysis indicates clusters of countries that experience obstacles to similar degrees. The paper concludes with recommendations for alleviating the constraints to enterprise development and in stimulating economic growth.

Item Type: Article
DOI/Identification number: 10.1080/08985626.2018.1515821
Uncontrolled keywords: enterprise development; SMEs; Caribbean; business environment; barriers to growth; ordered probit regressions
Subjects: H Social Sciences > HA Statistics
H Social Sciences > HD Industries. Land use. Labor
Divisions: Faculties > Social Sciences > Kent Business School
Depositing User: Catherine Robinson
Date Deposited: 19 Mar 2018 21:43 UTC
Last Modified: 20 Mar 2020 00:00 UTC
Resource URI: https://kar.kent.ac.uk/id/eprint/66015 (The current URI for this page, for reference purposes)
Drinkwater, Stephen: https://orcid.org/0000-0001-9973-8811
Robinson, Catherine: https://orcid.org/0000-0001-8861-4880
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