LocationsBlue Economy Resources
Blue Economy Resources
Financing the Blue Economy: A Caribbean Development Opportunity
This paper represents one of the Caribbean Development Bank’s efforts to support member countries in reducing systemic poverty through innovative social and economic development interventions using existing natural resources. The blue economy presents an option for regional policymakers to embrace the Caribbean’s comparative advantage, and to create an environment that better facilitates investments and private sector-led growth. Regional economic transformation grounded in the principles of the blue economy, needs advocacy and commitment at the highest levels, and empowered participation.
Key institutional and policy requirements necessary to facilitate the transition identified in this paper include:
- regional policy for economic sharing;
- ocean governance;
- supportive doing business environment and infrastructure;
- advocacy and participatory development; and
- a regional knowledge hub.
Measuring the Blue Economy: The System of National Accounts and Use of Blue Economy Satellite Accounts
The objective of this study is to investigate the use of national accounts data in measuring the impact of increased investments in the Blue Economy, which is all economic activities originating from the ocean and its natural resources. The outputs from these activities may be demanded for final consumption, or as inputs into other productive processes (Caribbean Development Bank, United Nations Development Fund, 2018). The measurement of a country’s national output is tied to its national accounting framework, which measures the contribution of individual industries to domestic economic activity. The researchers, therefore, propose to test the adaptability of the current national accounting systems to respond to changes in the outputs of Blue Economy industries.
