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Kevin Greenidge, Mr. Meredith A McIntyre, and Hanlei Yun
Since the 1980’s with the introduction of IMF/WB adjustment programs structural reforms have been a core part of the reform agenda in the Caribbean. The paper reviewed the package of structural reforms in trade liberalization, financial liberalization and tax policy, and gauges their impact on growth. The paper used a set of reform indices to gauge both short-run and long-run effects of structural reforms on growth, controlling for other possible growth determinants using panel dynamic OLS estimation. In addition, recognizing the importance of institutions to growth the empirical analysis also analyzed the impact of institutional quality on growth for a sample of small states including the Caribbean. We concluded that the benefits of structural reforms are only seen over the long-term and in reinvigorating growth the reform effort needs to be revived and include greater attention to strengthening institutional quality.
Kevin Greenidge, Mr. Meredith A McIntyre, and Hanlei Yun

Tobago), had a much lower institutional quality score and did not perform as well on the rule of law in society and political stability as the rest of small economies. 27 Significant improvement had been made by tourism based Caribbean economies in political stability, control of corruption and government effectiveness, which enhanced the business environment in these countries compared to the rest of small economies. ( Figure 3 ) Although the absolute value of the index is l relatively low (0.91 compared to 2.5, the maximum), the governments of tourism based