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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.
Filename: Returns-to-Education-in-Saint-Lucia.pdf | Size: 1.36 MB
Downloads: 1173
  
According to the Saint Lucia’s 2016 Survey of Living Conditions and Households Budget, annual Social Safety Net (SSN) spending average at 1.3 percent of GDP. Despite this spending, Saint Lucia’s Poverty Head Count (Poverty Rates) for three consecutive Country Poverty Assessment periods averaged at 26.3 percent. A number of deficiencies including administration, financial, infrastructural, and lack of technological application have hindered SSN system in Saint Lucia. A Granger Causality employing quarterly data from 2008 to 2019 supported that SSN spending concluded that SSN does not granger cause GDP however GDP granger cause SSN spending up to a 2 year period. Global country cases are highlighted to demonstrate how technology through the use of card based, mobile technology and biometric platforms have reduced cost and enhance operational efficiencies of SSN systems. Streamlining the SSN system and adopting global best practice can potentially enhance in Saint Lucia SSN systems.
Filename: Final-Strengthening-Saint-Lucia\'s-Safety-Nets-to-Respond-to-Future-Shocks.pdf | Size: 749.36 KB
Downloads: 1313
  
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
Filename: A-Financial-Inclusive-Approach-to-Enhancing-Credit-in-Saint-Lucia-10102020.pdf | Size: 564.75 KB
Downloads: 1799
  
Financing has been secured from the World Bank, towards the implementation of the OECS Regional Tourism Competitiveness Project (ORTCP). The Project principally aims to improve selected tourist sites in Castries. In this regard the Government of Saint Lucia (GoSL) has identified the Castries City Tourism Product as a priority for Saint Lucia with targeted investment sites and activities aimed at making downtown Castries more pleasant and attractive to tourists as well as to Saint Lucian residents. Therefore, as part of the ORTCP, the Government of Saint Lucia intends to implement several investment initiatives to revitalize downtown Castries. In keeping with this intention, the GoSL has prioritized the Castries Market and its environs as a pull factor with tremendous potential to increase the number of visitors in the Castries city centre. Notwithstanding its potential, the GoSL has recognized that in order to fully leverage the opportunities for increased visitation by both locals and visitors, the Castries Market needs to be revitalized in order to become one of the city’s most visited spots.
Filename: Castries-Market-Redevelopment--ESMP-February-16-2021_final__LNN_WB.pdf | Size: 2.74 MB
Downloads: 2002
  
Financing has been secured from the World Bank, towards the implementation of the OECS Regional Tourism Competitiveness Project (ORTCP). The Project principally aims to improve selected tourist sites in Castries. In this regard the Government of Saint Lucia has identified the Castries City Tourism Product as a priority for Saint Lucia with targeted investment sites and activities aimed at making downtown Castries more pleasant and attractive to tourists as well as to Saint Lucian residents. Therefore, as part of the ORTCP, the Government of Saint Lucia intends to implement several investment initiatives to revitalize downtown Castries.
Filename: Derek-Walcott-Square-ESMP-WB-Feb-2021.pdf | Size: 1.85 MB
Downloads: 1365
  
Financing has been secured from the World Bank, towards the implementation of the OECS Regional Tourism Competitiveness Project (ORTCP). The Project principally aims to improve selected tourist sites in Castries. In this regard the Government of Saint Lucia has identified the Castries City Tourism Product as a priority for Saint Lucia with targeted investment sites and activities aimed at making downtown Castries more pleasant and attractive to tourists as well as to Saint Lucian residents. Therefore, as part of the ORTCP, the Government of Saint Lucia intends to implement several investment initiatives to revitalize downtown Castries.
Filename: Derek-Walcott-Square-ESMP-updated-(Revised).pdf | Size: 1.86 MB
Downloads: 934
  
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