Health Sciences 1002A/B Lecture Notes - Michael Manley, Edward Seaga, Free Trade
3 Dec 2012
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Notes for class 22 case study: the jamaican experience of structural adjustment - j. polzer. Up to wwii, the jamaican economy was based primarily on agriculture oriented to the production of food for the domestic market, and sugar and bananas were export to the uk. Export-oriented agriculture was organized around large british-owned plantations that specialized in sugar exports to the united kingdom. From the 1950s bauxite and alumina had become the principal exports. However, in the 1980s, the rapid growth of tourism established the sector as the leading foreign exchange earner (in gross terms). (witter). World war, its main exports sugar and bananas were marketed under preferential agreements with the united kingdom (under the lome agreement). Between 1950 and 1962, jamaica had become an example of rapid economic development, and achieved standards of social wellbeing that were extremely high ( virtually unmatched ) in the developing world (george, 1988, p. 172)
