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Dr. Marlon Anatol, a Trinidad and Tobago national, lectures at the University of the West Indies (St. Augustine) at the Institute of International Relations. He also operates a small research company in Trinidad and Tobago. He holds an Honors Degree in Applied Sociology and a Ph.D. in International Relations. As a research specialist, he has served as research consultant for several regional and international organizations (Caribbean Regional Negotiating Machinery, United Nations Development Program, Department for International Development, and Caribbean Development Research Services).
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Sustained industrial growth has been widely acknowledged as an engine of economic transformation in all countries; developed and developing. Less developed countries, however, remained predominantly agrarian due to lack of dynamism in the industrial economy and the low level of industrialization.
It has been postulated that diversification of the economy is necessary for survival, and it is being suggested that the manufacturing sector of the economy has a significant role to play in strengthening the economy, and raising the level of productivity, and by extension making the economy more stable and sustainable.
Several key areas need to be examined, and these areas constitute the elements of a new diversification paradigm that will enable Trinidad and Tobago to benefit from a better use of its resources and from the ongoing trade liberalization efforts at bilateral, regional, and international levels. The ultimate recommended diversification policies would necessarily include the evaluation of the current macroeconomic, trade, sectoral, industrial, and financial development policies; as well as the proposed strategies that will strengthen institutions. We will evaluate the government’s roles, the role of the private and banking sectors to determine the need and scope for diversification in the local economy.
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University College of the Cayman Islands
