How Important are Cash Flows for Firm Growth in Barbados?

by Dr. Winston Moore, Dr. Justin Robinson and Ms. Tracey Broome

Firm liquidity can be particularly important for firms that are not able to access capital from traditional financial market institutions. The current study estimates a dynamic model of firm growth in Barbados, using data on companies listed on the Barbados Stock exchange between 1997 and 2007, to evaluate the impact of firm liquidity. The estimated results suggest that a one percent rise in cash flow ratios leads to an increase in firm growth of between 0.3 and 0.6 percent. This relationship was robust to the addition of control variables, non-linearity and lagged effects as well as the addition of governance indicators. Given the importance of cash for firm growth in Barbados, the results suggest that policymakers should consider providing greater liquidity support for start-ups.

Pages: 1-18

Key words: liquidity, firm size, growth, Caribbean.

Quality Education for All in the Eastern Caribbean: Rethinking the Curriculum in the Face of Universal Secondary Education

by Dr. Coreen Leacock

This paper explores the issue of quality education as it relates to universal secondary education (USE) in the Eastern Caribbean (EC). It discusses the historical context of secondary education in the region, and its influence on areas such as the purpose of secondary education, the content of the secondary education programmes, and the manner in which students are transferred from primary education to secondary. The paper also discusses challenges faced by EC countries where USE is already in place, citing the example of Barbados, and identifying issues that must be addressed if quality is to be a priority for secondary education for all in the region.

Pages: 19-38

Key words: universal secondary education, quality education, Caribbean, curriculum

Disruptive Behaviours in Barbadian Classrooms: Implications for Universal Secondary Education in the Caribbean

by Dr. Benita Thompson

This paper examines how classroom disruptive behaviours can derail the benefits to be derived from Universal Secondary Education (USE). Specific attention is paid to disruptive behaviour as it relates to the nature and level of occurrence in older and newer secondary schools and the perceived causes. Implications from the findings suggest that Caribbean territories yet to implement USE should consider issues relating to more equitable student allocation, appropriate and relevant curriculum, the training of teachers in classroom management and more parent inclusion in the education system. Consideration of these issues should certainly enhance the quality of education provided by USE.

Pages: 39-58

Key words: classroom disruptive behaviour, universal secondary education, disruptive behaviour


A Tale of Constitutive Capacities for Civil Society Organisations (CSOs) in Natural Resources Management (NRM): Between India and the Caribbean Basin

by Mr. Emmanuel Asomba

With evidence taken from India and the Caribbean region, this commentary draws on different dimensions and complementarities as they unfold to engage sustainable Natural Resources Management (NRM).

Pages: 59-67

Is Money Endogenous in the Pacific Island Countries?

by Prof. T.K. Jayaraman and Dr. Chee-Keong Choong

The objective of this paper is to examine whether any generalisation could be made in respect of all six Pacific island countries, which have their own independent currencies.

Page: 68-78

Science, Technology and Innovation and Inequality

by Mr. Richard Kelly

This paper discusses inequalities related to the use (or unavailability) of STI from the perspective of Jamaica. The main focus of the paper is on education and Information and Communications Technology (ICT). It looks briefly at health, employment and security.

Page: 79-91.



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Editorial Review

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