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Cover -- Table of Contents -- ABSTRACT -- I. INTRODUCTION -- II. STYLIZED FACTS AND LONG TERM TRENDS IN CARIBBEAN'S TOURISM -- III. THE DATA AND THE GRAVITY MODEL OF TOURISM -- A. The Gravity Model -- B. The Data -- IV. MEASURING THE IMPACT OF US-CUBA TOURISM ON THE REST OF THE CARIBBEAN -- A. Estimating US-Cuba tourism flows -- V. CONCLUSIONS AND POLICY IMPLICATIONS -- VI. REFERENCES -- VII. APPENDIX -- FIGURES -- Caribbean Tourist Arrivals, 1995-2014 -- Evolution of the Caribbean Tourism Market, 1995-2014 -- Canadian Tourists by Destination, 1995-2014 -- Caribbean Tourist Arrivals by Source, 2014 -- Caribbean Change in Share of Tourism Sources, 2000-2014 -- TABLES -- 1. Gravity Estimations -- 2. Actual vs. Predicted Arrivals

The sovereign debt restructuring operation in Jamaica undertaken in early-2010 was a unique experiment that perhaps offered less by way of upside, if compared to the conventional sovereign debt exchanges, but provided credible assurances against further downfall and financial sector distress. A case study of a highly indebted country with domestically held debt, the paper discusses the conditions leading to the exchange, the rationale behind it, as well as its operational aspects. Achievements of the exchange, too, are discussed in detail. The paper also outlines the risks stemming from the hi

Los subsidios a la energía tienen consecuencias económicas de amplio alcance. A pesar de que tienen por objeto proteger a los consumidores, los subsidios agravan los desequilibrios fiscales, desplazan gastos públicos prioritarios y deprimen la inversión privada, en particular en el sector de la energía. Los subsidios también distorsionan la asignación de recursos al promover un consumo excesivo de energía, estimular artificialmente industrias que requieren un uso intensivo de capital, reducir los incentivos a la inversión en energías renovables y acelerar el agotamiento de los recursos natural