Volume 36 No. 1

Philmore Alleyne, Tracey Broome, Kari Grenade, Denny Lewis-Bynoe, Lomarsh Roopnarine & Marion Williams

Issue Summary

The thematic focus in the issue includes: investment intentions, attitudes, subjective norms, perceived behavioural control, risk propensity, comparative development, gross domestic product, endogenous growth, debt, United States Virgin Islands, St. Croix, mal-distributive justice, marginalisation, insularity and secession.

In this issue

Using the Theory of Planned Behaviour and Risk Propensity to Measure Investment Intentions among Future Investors

Pages:  1-20Author(s):  Philmore Alleyne and Tracey Broome

The purpose of this study is to determine individual factors that are likely to influence the investment decisions of potential investors. The study uses the dimensions of Ajzen’s (1991) theory of planned behaviour (attitudes, subjective norms, and perceived behavioural control) and Sitkin and Weingart’s (1995) risk propensity as predictors of investments intentions. The study used a self-administered questionnaire of a sample of business students in an undergraduate institution. It was found that attitudes, subjective norms, perceived behavioural control, and risk propensity were significant predictors of investment intentions. We also found that risk propensity did not moderate the relationship between the predictors (attitudes, subjective norms, and perceived behavioural control) and the dependent variable, intentions to invest. These findings are consistent with prior research and do show support for the theory of planned behaviour.  Additionally, this study provides evidence of risk as further supporting the theory of planned behaviour.

Keywords:  investment intentions, attitudes, subjective norms, perceived behavioural control, risk propensity.

Reflecting on Development Outcomes: A Comparative Analysis of Barbados and Guyana

Pages:  21-42Author(s):  Kari Grenade and Denny Lewis-Bynoe

This study undertakes a comparative analysis of post-independence development outcomes of Barbados and Guyana. The study finds that differences in policies as well as institutional and governance structures were the key factors underpinning the marked divergence between the two countries during the period 1970-1999. In assessing performance post 2000, the study finds that improvements in macroeconomic management, institutional strengthening, deeper social cohesion and political stability have allowed Guyana’s growth rates to catch up and even surpass Barbados’. The research evinces key lessons that should help support the more even development of Caribbean countries.

Keywords:  comparative development, gross domestic product, endogenous growth, debt

St. Croix’s Secession Movement in the United States Virgin Islands: Sentimental or Serious

Pages:  43-66Author(s):  Lomarsh Roopnarine

The following article analyses a secession movement in the United States Virgin Islands (USVI). Since the turn of the new century, a significant number of individuals have clamoured for the separation of St. Croix from St. Thomas and St. John. Their reason for secession is that St. Croix has contributed to the territorial coffers but the island has received unequal representation, unfair treatment, and mal-distributive justice. St. Croix’s secessionists do not want independence. Rather, they desire an individual associated status with the United States in the same manner the Dutch Antilles and Anguilla have with Holland and Britain respectively. The article shows St. Croix’s rights for and against secession and then argues that there must be substantive criteria and sound procedural policies before St. Croix’s secession can be taken seriously. Finally, the author does not advocate secession but rather seeks to understand the desire for secession in the USVI.

Keywords:  United States Virgin Islands, St. Croix, mal-distributive justice, marginalisation, insularity and secession.

Commentary - Unintended Consequences of Remedial Measures taken to correct the Global Financial Crisis: A Regulatory and Compliance Perspective

Pages:  67-80Author(s):  Marion Williams

There are many lessons of the global financial crisis for which it is imperative that governments and regulators take cognizance of, many of which flow from their attempts to deal with the crisis. Among these is the prospect that remedial action taken may be in contravention of international agreements, conventions and commitments given under World Trade Organisation (WTO)’s Generalised Agreement on Trade in Services (GATS). Also it is essential that measures used to mitigate the effects of the crisis do not contain the seeds of future problems.


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