The middle income trap refers to the difficulties that some countries

The middle income trap refers to the difficulties

This preview shows page 79 - 82 out of 156 pages.

The ‘middle income trap’ refers to the difficulties that some countries experience in growing from middle income to the higher income level after having successfully transitioned from lower to middle income. These countries’ competi- tiveness in manufactured goods and the high-value-added markets lags behind the advance economies. To escape the middle income trap and reverse the coun- try’s relative underperformance (see chapter 2), Trinidad and Tobago needs to get the fundamentals right. These fundamentals relate to (a) our culture, values and attitude, (b) the institutional structures that are required to catalyse socio-economic transformation and (c) macroeconomic policy.
Image of page 79

Subscribe to view the full document.

Behaviours (VABs) must occur. Based on the non-progressive and progressive cultural factors of Trinidad and Tobago, which were identified in Figure 2.2, there are five key transformations which must be made if our nation is to truly advance. These are: 1. MOVE TO MORE EVIDENCE-BASED DECISION MAKING At present, our approach to knowledge and decisions are primarily based on greater use of debate and opinion as opposed to verifiable data or facts, in support of evidence-based decision making . This current approach con- tinues to negatively impact development in the form of costly, ad hoc, reactionary policy deci- sions that often require greater research and consultation. Further, we must build a culture of Monitoring and Evaluation (M&E) 31 which supports data driven decision making. A mature, research-based M&E culture and system is yet to be built. 31 In 2008 Government mandated the establishment of Monitoring and Evaluation Units in all Ministries and in February 2015, a National Monitoring and Evaluation Policy was approved by Cabinet. Our Values, Attitudes and Behaviours Citizens come together for International Coastal Cleanup Day 2017 to clean up our beaches and preserve the beauty of our nation P H O T O : K E E G A N C A L L E N D E R
Image of page 80
2. CITIZENS WHO ARE MORE INDEPENDENT AND CRITICAL THINKERS, CREATIVE, INNOVATIVE AND ENTREPRENEURIAL We must reverse certain aspects of our current approach to education . VABs pertaining to independent and critical thinking, creativity and prob- lem solving skills are hindered due to greater emphasis on promoting conformity and orthodoxy within schools. VABs regarding risk taking, investment, innovation and entre- preneurship are lacking within our education system. These will take time to reverse and are symptom- atic of the design of our education system such as curriculum content and limited teaching meth- odologies. The transformation of the education system has been identified by Government as a critical step towards engendering the desired VABs within our children towards nation building. 3. INSTIL POSITIVE WORK ETHIC Our work ethic, achievement-orienta- tion and productivity are another set of critical cultural factors that restrict our ability to fulfil a number of our Vision 2030 goals. They result in inef- ficient, low quality, service delivery.
Image of page 81

Subscribe to view the full document.

Image of page 82
  • Fall '19

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask You can ask ( soon) You can ask (will expire )
Answers in as fast as 15 minutes