Presentation by Adrian Devitt : Implementing the National Competitiveness Strategy (Establishment of a National Competitiveness and Productivity Council, St Lucia)
Presentation by Adrian Devitt : Implementing the National Competitiveness Strategy (Establishment of a National Competitiveness and Productivity Council, St Lucia)
Presentation by Laura del Castillo Saviñón : The Dominican Republic National Competitiveness Council (Establishment of a National Competitiveness and Productivity Council, St Lucia)
Presentation by Ramesh Dookhoo : Implementing the National Competitiveness Strategy (Establishment of a National Competitiveness and Productivity Council, St. Lucia)
The performance of the financial sector in Saint Lucia has been impacted by weak credit growth despite
elevated deposit levels over the past decade. The paper seeks to evaluate credit dynamics in Saint Lucia
by empirically investigating the main determinants of credit (..)and the relationship of credit with
economic through the use of an ordinary least square regression model (1979 to 2019). The empirical
findings suggest that GDP, ROA, two (2) year lag of NPL and deposits influences credit in Saint Lucia
while credit impacts GDP and GDP impacts credit in the short run. Our findings also suggest that the
types of loans (personal-residential) granted in Saint Lucia, despite low risk to financial institutions,
has not had a significant impact on GDP. The paper uses country case examples to demonstrate
strategies used to enhance credit to make economies more financially inclusive. The development of
digital financial services, the establishment of a credit bureau, and the development of the
microfinance industry is therefore proposed for financial development. A financial inclusive approach
would allow for the services to reach the unbanked and significantly impact on economic growth in Saint Lucia
This paper sought to assess the returns to education in Saint Lucia. Having made significant public
investment in education through school plant underscored by the universal primary and secondary
education policy questions have emerged regarding the efficacy of this approach in the face of clear
evidence that many person are go to and through school without learning which obviously defeats the
purpose. Using the 2016 Survey of Living Conditions and the Household Budgetary Survey (SLC\HBS) we
estimate a Mincerian Wage Function for Saint Lucia. The results show that there are huge returns to one
additional year of schooling as well as one additional year of job experience. On that basis the paper suggest
that Government should increase the years of schooling in Saint Lucia beyond the mandatory 5 to 15 year
as per the Education Act, but the authors advocates that this increase should be in Early Childhood
Education.
There is growing evidence to suggest the positive impact of arts education on vulnerable youth.
Research suggests that arts education provides an outlet for vulnerable youth to develop their
self-expression and improve their proficiency in communicating their dreams and fears. Art
activities promote self-esteem, self-confidence, and feelings of acceptance and success (King &
Schwabenlender, 1994, p. 8). Arts education also has the potential to meet a variety of
developmental needs for vulnerable youth. These developmental needs include intellectual
needs, physical needs, social needs, and emotional needs.