Caribbean Energy: Macro-Related Challenges

68 Pages Posted: 26 Apr 2016

See all articles by Arnold McIntyre

Arnold McIntyre

International Monetary Fund (IMF)

Ahmed El-Ashram

International Monetary Fund (IMF)

Marcio Ronci

International Monetary Fund (IMF) - Policy Development and Review Department

Julien P. M. Reynaud

Université Paris I Panthéon-Sorbonne; International Monetary Fund (IMF)

Natasha Che

International Monetary Fund (IMF)

Ke Wang

International Monetary Fund (IMF)

Sebastian Acevedo Mejia

International Monetary Fund (IMF)

Mark S Lutz

International Monetary Fund (IMF)

Francis Strodel

affiliation not provided to SSRN

Anayochukwu Osueke

International Monetary Fund (IMF)

Hanlei Yun

International Monetary Fund (IMF)

Date Written: March 2016

Abstract

High energy costs contribute to dampening Caribbean competitiveness and potential growth. This paper overviews power sector challenges and takes stock of national and regional strategies to address them. It presents recommendations to move the energy agenda forward based on analyses of macro-aspects of energy reform. These include: i) quantitative assessment of the impact of energy costs on growth and competitiveness; ii) evaluation of gains from implementing announced renewable energy and energy efficiency targets; and iii) analysis of the impact of energy investments on debt sustainability. The paper argues for a bigger role for the private sector in energy reform and discusses prerequisites for good public-private partnerships.

Keywords: Energy Reform, Oil Price Shocks, Renewable Energy, Energy Efficiency, PPP, energy, oil, electricity, investments, investment, Energy and the Macroeconomy, Alternative Energy Sources, Time-Series Models, Models with Panel Data, Institutions and Growth

JEL Classification: Q43, Q42, C32, C33, O43, H54, H63

Suggested Citation

McIntyre, Arnold and El-Ashram, Ahmed and Ronci, Marcio and Reynaud, Julien P. M. and Reynaud, Julien P. M. and Che, Natasha and Wang, Ke and Acevedo Mejia, Sebastian and Lutz, Mark S and Strodel, Francis and Osueke, Anayochukwu and Yun, Hanlei, Caribbean Energy: Macro-Related Challenges (March 2016). IMF Working Paper No. 16/53, Available at SSRN: https://ssrn.com/abstract=2770288

Arnold McIntyre (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Ahmed El-Ashram

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Marcio Ronci

International Monetary Fund (IMF) - Policy Development and Review Department ( email )

700 19th St. NW
Washington, DC 20431
United States

Julien P. M. Reynaud

Université Paris I Panthéon-Sorbonne ( email )

Maison des Sciences Economiques
106-112, Bd. de l'Hôpital
75647 Paris Cedex 13
France

HOME PAGE: http://team.univ-paris1.fr/teamperso/reynaud/julien.htm

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Natasha Che

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Ke Wang

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Sebastian Acevedo Mejia

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Mark S Lutz

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Francis Strodel

affiliation not provided to SSRN

Anayochukwu Osueke

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Hanlei Yun

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

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