Resource-Driven, FDI-Facilitated Development in CARICOM: Myth or Reality?

The main thesis of this study is that FDI-facilitated development occurs when governments formulate and implement industry policy in institutional environments characterised by embedded autonomy. To recapitulate, this is an institutional environment in which autonomous and efficient bifurcated bureaucracies in collaboration with an entrepreneurial and capable private sector formulate and implement industrial policies that allow developing countries to achieve FDI-facilitated development (see Figure 1.3). Chapters 5 to 8 examined the efficacy of the institutional environment that Jamaica, Guyana, Suriname and Trinidad and Tobago created to achieve resource-driven, FDI-facilitated development. These chapters examined this issue for the bauxite industry of Jamaica, Guyana and Suriname, and the proposed aluminium industry of Trinidad and Tobago.