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The Caribbean share of the global tourism market has been declining. This study examines what is driving tourism flows. It estimates the determinants of tourism and explores variations based on sample differences, and also constructs a static nominal price comparison index. The paper finds that: (i) tourism arrivals and expenditure are sensitive to both price and income factors in source markets; (ii) price and income elasticities of tourism have declined since 2008; (iii) price elasticity is statistically insignificant for “high-end” destinations; and (iv) the nominal cost of an average one week beach holiday in the Caribbean is higher than in other beach destinations around the world. These results point to the need for structural reforms to raise product quality, cost reduction or containment in “low-end” destinations, including possibly via exchange rates, and an adjustment in aggregate consumption to adapt to the implications of a lower contribution to GDP from tourism.
This book provides a diagnosis of the central economic and financial challenges facing Caribbean policymakers and offers broad policy recommendations for promoting a sustained and inclusive increase in economic well-being. The analysis highlights the need for Caribbean economies to make a concerted effort to break the feedback loops between weak macroeconomic fundamentals, notably pertaining to fiscal positions and financial sector strains, and structural impediments, such as high electricity costs, limited financial deepening, violent crime, and brain drain, which have depressed private investment and growth. A recurring theme in the book is the need for greater regional coordination in fin...
Iceland: Selected Issues
The past three decades have witnessed the great success of lithium-ion batteries, especially in the areas of 3C products, electrical vehicles, and smart grid applications. However, further optimization of the energy/power density, coulombic efficiency, cycle life, charge speed, and environmental adaptability are still needed. To address these issues, a thorough understanding of the reaction inside a battery or dynamic evolution of each component is required. Microscopy and Microanalysis for Lithium-Ion Batteries discusses advanced analytical techniques that offer the capability of resolving the structure and chemistry at an atomic resolution to further drive lithium-ion battery research and development. • Provides comprehensive techniques that probe the fundamentals of Li-ion batteries. • Covers the basic principles of the techniques involved as well as its application in battery research. • Describes details of experimental setups and procedure for successful experiments. This reference is aimed at researchers, engineers, and scientists studying lithium-ion batteries including chemical, materials, and electrical engineers, as well as chemists and physicists.
This 2019 Article IV Consultation explains that St. Lucia’s near-term growth prospects are favorable, supported by large infrastructure investment and robust tourist inflows. However, longer-term growth continues to be impeded by high public debt, lingering vulnerabilities in the financial system, and structural impediments to private investment. Diminishing policy buffers further weaken the country’s resilience to external shocks against the backdrop of aprecarious global outlook. Completion of long pending legislative initiatives, alongside stronger regional and domestic financial oversight, should provide banks with incentives to strengthen their balance sheets and increase the effici...
This Selected Issues paper assesses Panama’s business model founded on its ability to attract international financial, business, and transportation services. Panama has had exceptional growth over recent decades. A growth diagnostic exercise suggests that Panama is well placed to maintain this business model. Higher-quality education, stronger governance, and less bureaucracy will further strengthen Panama’s comparative advantage. Additional analysis suggests that investment will continue to support growth, while the logistics and tourism sectors promise to build further on Panama’s comparative advantage.
This chapter presents the point of view and ideas of Sabina Alkire, an economist. Alkire wants the Multidimensional Poverty Index to be part of a data revolution to guide the fight against poverty. According to Alkire, learning to meditate soothed away what she describes as the temper tantrums of her childhood. The chapter also highlights the fact that an index is only as good as its underlying data, and in emerging market economies that quality is often inadequate. The quest for better poverty metrics coincides with growing doubts about the ability of conventional statistics, especially GDP, to gauge economic growth in the digital economy, let alone well-being, welfare, and environmental sustainability.
This edition of Progress in Ceramic Technology series contains a select compilation of articles on the topic of nanomaterials processing of powders; thin films, wires and tubes; and composites that were previously published in The American Ceramic Society Bulletin, Journal of the American Ceramic Society, International Journal of Applied Ceramic Technology, Ceramic Engineering and Science Proceedings (CESP) and Ceramic Transactions (CT).
MXenes for Energy Storage Applications focuses on two-dimensional transition metal carbides and nitrides (MXenes), covering the structure, precursors, types of compositions, and unique properties of MXenes. It highlights various promising applications of MXenes-based materials across different energy fields, such as catalysis and energy conversion, including hydrogen evolution reaction, oxygen evolution reaction, oxygen reduction reaction, supercapacitors, batteries, and so forth. This book provides advanced solutions for all the issues and challenges related to energy storage and conversion: It covers a large range of MXenes from their basics to the advancements and their energy application...
After the drug discovery and development process, designing suitable formulations to safely deliver the optimum dose, while avoiding side effects, has been a constant challenge, especially when drugs are very toxic and have poor solubility and undesirable clearance profiles. With recent advances in synthetic technologies, nanoparticles can be custom-made from a variety of advanced materials to mimic the bioenvironment and can be equipped with various targeting and imaging moieties for site-specific delivery and real-time imaging. Drug Delivery Using Nanomaterials covers advancements in the field of nanoparticle-based drug-delivery systems, along with all the aspects needed for a successful a...