The Caribbean Policy Research Institute (CaPRI) is a nonprofit think tank based in Jamaica that conducts research and policy analysis to inform decision-making across a range of economic and social issues in Jamaica and the wider Caribbean region. CaPRI's mission is to provide impartial, evidence-based research and analysis to policymakers, citizens, and other stakeholders to support more informed public policy debates and decisions. It focuses on key thematic areas like social issues, economics, energy, and governance. CaPRI disseminates its findings through reports, briefs, and advocacy efforts aimed at influencing public policy.

1. what is
CaPRI ?

2. The Caribbean Policy Research Institute (CaPRI) is a not-for-profit, public
policy think tank dedicated to the production and dissemination of
impartial, evidence-based knowledge to inform economic and social
policy decision-making in Jamaica and the wider Caribbean.
CaPRI works to promote informed dialogue on socio-economic
development, working with a vision of the Caribbean in which
decision-making in public policy and the private sector is based on
relevant information grounded in verifiable evidence. Policy-making
by informed decision-makers in the presence of an enlightened public,
with transparency, will improve the quality of decision-making. We
are convinced that better, more informed public policy will promote
inclusive, sustainable economic growth in Jamaica and the Caribbean.
CaPRI’s mission, therefore, is to provide quality research in an accessible
manner to policy-makers, their constituents and the general public
to inform a constructive debate around critical social, economic and
developmental issues facing the region.
CaPRI makes its impact through the execution of sound research along
with widespread, accessible dissemination of its key findings, together
with visible advocacy. We make our research findings available by way
of briefs and summaries that are targeted to the general public, as well
as more detailed papers and studies that are geared towards specialists
and policy makers. We explore different aspects of situations with the
aim of bringing a comprehensive perspective and solutions to the most
pressing developmental issues of the day. Our subject matters may be
thematic or sectoral, but they are all pertinent to the question of how
can Jamaica, and other Caribbean countries, make progress towards
fulfilling its social and economic development potential. A full list of
projects underway but still incomplete is in the appendix.
CAPRI’s Mission2

3. our mission
The Jamaican economy has under-performed in just
about every measure imaginable. Given its structural
endowments, natural and human resources, geographical
advantages and institutional framework, the expectations
for the country’s social, political and economic development
since its independence in 1962 have not been met. We
attribute this failure to short-sighted exigency on the part
of the country’s leaders, narrow political calculations by the
country’s decision-makers, and weak public sector capacity.
Together these factors have produced a detrimental series
of policy choices and/or poor policy implementation at
critical junctures over the past five decades. We believe that
a key aspect of this triage is technical weaknesses in public
sector capacity, itself due to the inability of a small country to
exploitinherentscale-economiesinpublicadministration,as
well as to the embedded practice of underpaying for talent
in the public sector, which leads to a prizing and hoarding
of discretionary power, which then inhibits the potential
for change in the public sector’s institutional culture and
practices.
Our research and experience in the study of the Jamaican
economy and its underperformance thus far leads us
to confidently conclude that given Jamaica’s natural
endowmentsandinstitutionalinheritance,moreenlightened
public policy will produce increased, sustainable, inclusive
prosperity and greater social harmony. CaPRI’s mission
is to provide the knowledge, either through distilling
and disseminating existing research, or by conducting
new research, so that public policy choices can be better
informed.
Any area of national development in which a policy decision
looms is an opportunity for CaPRI to provide the information
relevant to informing its consideration and any ultimate
decision-making outcome.
“We attribute this failure to
short-sighted exigency on
the part of the country’s
leaders, narrow political
calculations by the country’s
decision-makers, and weak
public sector capacity.”
CAPRI’s Mission3

4. Impact
CaPRI’s raison-d’etre is to contribute to more constructive
welfare/wealth-promoting policies, whether in the
social, economic, environmental, industrial, financial,
educational or health sectors. The only goal and measure
of our success is the effect we have on economic and
social policies.We aim to stay one step ahead of key policy
issues so that our research agenda, and our findings, are
always relevant and timely, and so an important aspect
of our work is to anticipate incipient issues, debates and
decisions in the public policy arena.
Beyond that, CaPRI maintains a strong focus on
dissemination and media coverage, in order to achieve as
great an impact as possible from its research findings.The
conclusions and recommendations from each research
project are distilled into clear recommendations which
are launched at a public forum, which provides the
backdrop for widespread media coverage. In addition,
the recommendations form the agenda for direct
advocacy with policy-makers – ministers of government,
permanent secretaries, heads of public bodies and
leaders of sectoral groups.
We are justifiably proud of the results that our efforts
have yielded. CaPRI can claim a number of instances
where its work has directly influenced important policy
decisions. Amongst our publications for which there
is strong evidence of policy impact are, “Investigating
Informal Investment Schemes in Jamaica” (2008), “An
Exchange Rate Regime for Jamaica”(2009), and “10 Steps
to a Scrap Metal Solution” (2011). CaPRI’s Report titled,
“Jamaica’s Debt” (2008) was repeatedly quoted by the
Minister without Portfolio in the Ministry of Finance in the
months after its release. The full catalogue of our reports
and briefs appears in the Appendix.
“The conclusions and
recommendations from each
research project are distilled
into clear recommendations
which are launched at a public
forum, which provides the
backdrop for widespread
media coverage.”
CAPRI’s Mission4

5. Thematic areas
Social IssuesCaribbean people, like humans all over the world, aspire to achieving
a safe living environment, a life free from gender biases and other
prejudices, and improved access to basic services. The thematic
area of “social issues” addresses the Caribbean’s most formidable
challenges, namely crime, violence, poverty, healthcare, education
and unemployment. By addressing these issues and devising policy
recommendations to resolve them, CaPRI’s work aims to contribute
to reducing poverty, the development of a better and more adequate
social safety net, and, ultimately, increasing the standard of living of all
Caribbean people.
EconomicsIn the area of Economics, CaPRI seeks to provide specific and timely
informationforpublicandprivateactorstocontributetowealthcreation
and, in turn, national economic growth. Specifically, research in this area
supports policy decisions in fiscal policy, monetary policy, infrastructure
development, the business environment, and debt management. The
focus is on increasing the productive capacity of and commercial
opportunitiesforCaribbeaneconomiesbypromotingeconomicpolicies
that facilitate broad-based investment, production, and trade without
regard to special sectoral interests, except where sectoral interests are
clearly aligned with general economic development.
SinceforthcomingpolicydecisionsguideCaPRI’sresearchagendaatany
point in time, what are the critical challenges and policy decisions that
will face Jamaican administrations in the next triennium? And therefore,
what work is CaPRI doing to ensure that it is fulfilling its mandate in
contributing to those policy decisions?
EnergyBoth the high retail cost of electricity in Jamaica and the emergence of
viable renewable sources suggest that policy makers will be faced with
critical decisions on how to reduce energy costs and create a framework
for taking advantage of the advances in renewables. CaPRI’s current and
future work will provide the most up-to-date research on how Jamaica
can best position itself to navigate this complex policy space.
GovernanceGood governance, or the “process of creating and sustaining an
environment for inclusive and responsive political processes and
settlements”,iscriticaltonationalandregionalgrowthanddevelopment
(UNDP, 2011).
The thematic area of Governance explores how Caribbean governments
should manage their countries’ resources in delivering public services
efficientlyandeffectively,andensuringaccountabilityandtransparency.
This is critical if the Caribbean public is to regain, or in some cases
gain, confidence in the political and administrative authorities and the
decisions taken in managing the country’s and the region’s affairs.
Canadian International Development
Agency (CIDA)
Caribbean Development Bank (CDB)
Christian Aid (United Kingdom)
Department for International Development
(DFID - United Kingdom)
Inter-American Dialogue (United States)
International Development Research
Council (IDRC - Canada)
The European Union
United States Agency for International
Development (USAID)
Our local support has come from contributions
from the following companies:
Gore Developments
The Gleaner Company
ICD Group
Insurance Company of the West Indies
Jamaica Money Market Brokers
Jamaica National Building Society
Pan-Jamaican Investment Trust
Scotiabank
Spanish Court Hotel
Supreme Ventures
Continental Baking Company Limited
Musson Jamaica Limited
Other local partners include:
Development Bank of Jamaica
National Health Fund
Private Sector Organization of Jamaica
PartnersPartnerships with other think tanks, academic
institutes, developmental organisations and
private companies around the world provide CaPRI
with access to scholarly, analytical, and financial
resources. Our international partners include:
CAPRI’s Mission5

6. management
& Financial policies
The affairs of the Institute are overseen by a
Board of Directors led by a Chairman and by
two Executive Directors. The Executive Directors
are responsible for the day-to-day running of
the organization and also drive the research
agenda and policy advocacy. All administrative
responsibilities fall to the Business Manager.
CaPRI’s financial accounts are produced on a
monthly basis and presented to its Board of
Directors at their quarterly meeting. Financial
audits are conducted annually; our current
auditor is KPMG. The financial year begins
August 1. The Board’s policy is to maintain
adequate capital to carry out the objectives for
which the Institute was established.
The financial statements are prepared under
the historical cost convention method and are
presented in Jamaican dollars (J$), which is the
functional currency of the Institute.
Transactions in foreign currencies are converted
at the rates of exchange ruling on the dates
of those transactions. Monetary assets and
liabilities denominated in foreign currencies at
the reporting date are translated to Jamaican
dollars at the rates of exchange ruling on that
date. Gains and losses arising from fluctuations
in exchange rates are recognised in the
statement of comprehensive income
Research contributions, grants and contracts
are recognised as revenue in the period in
which the related expenses are incurred. Where
contributions and grants are received ahead
of time for their expenditure, the funds are
used to purchase short-term securities under
resale agreements. The difference between
the purchase and resale considerations is
recognised on an accrual basis over the period
of the transaction and is included in interest
income.
CAPRI’s Mission6

7. publications
TheCorrespondentBankingProblem:ImpactofDe-bankingPracticesonCaribbeanEconomies
Implications for Jamaica of United States policy changes towards Cuba
An Assessment of the National Housing Trust
CaPRI’s Covenant
An SDG Agenda for the Caribbean
Reforming Public Sector Reform
Managing Urban Landfills: Emphasis on the Riverton Dump
The Scope for Public-Private Partnerships: A Solution for Jamaica’s Developmental Needs
The Potential Impact of Open Data on the Growth and Innovation Agenda
Creating National Wealth through the Jamaica Logistics Hub
Electricity Prices in Jamaica: Why Are They So High?
The Ease of Registering a Company: Jamaica’s new“Super Form”is Super Slow
Are Bank Fees Too High?
A Fiscal Rule for Jamaica
Fee or Free: A Survey of the No-user Fee Policy in Public Hospitals
Debt in the Caribbean
Report Card on Education in Jamaica
Booms Need Busts: Reforming Insolvency Legislation
10 Steps to a Scrap Metal Solution
Social Partnerships and Development: Implications for the Caribbean
Towards Public Sector Reform in Jamaica
Tax Reform for Growth
A Critique of Proposals from Around the World to Reform Financial Regulation
A Briefing on the Global Economy
Achieving Fiscal Sustainability: The JDX & Beyond
Energy Diversification and the Caribbean
Renewable Energy: Ushering in the New Caribbean Economy
Improving Jamaica’s Education: Options for Using Report Cards to Measure Performance &
Improve Accountability
Funding Tertiary Education in Jamaica
The Impact of the EPA on Caribbean Economies: A Structural Analysis of Four Caribbean
Countries
The Pittsburgh G-20: A Caribbean Perspective
The Role of Regional Trade Agreements in the Agribusiness Sector: Caribbean and Latin
American Economies
Jamaica and the IMF: Addressing the Issues
Fiscal Stimuli: When, Why & How
The Effect of the Global Economic Crisis on Jamaican Businesses: An Analysis of Exposure and
Responses
The Question of a Fixed Exchange Rate for Jamaica: An Answer from Theory & Practice
A New Social Partnership for Jamaica
Dual Citizenship & Political Representation in Jamaica: Insights from Comparative Research
Beyond Tourism: The Future of the Services Industry in the Caribbean
Jamaica’s Debt – Exploring Causes & Strategies
Investigating Informal Investment Schemes in Jamaica
Resilience Potential: Assessing Jamaica’s“Bounce-Back”from Hurricane Dean
Economic Impact of Crime
CaPRI’s Analysis of Political Pledges and Promises: A Dual Approach to Election Monitoring in
Jamaica
Educational Reform in Jamaica: Recommendations from Ireland, Finland & Singapore
Jamaica’s Foreign Policy: Making the Economic Development Link
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8. about Capri
The Caribbean Policy Research Institute (CaPRI) is a
not-for-profit, public policy think tank based at the
University of the West Indies, dedicated to the provision
of impartial, evidence-based knowledge to inform
economic and social policy decision-making in Jamaica
and the wider Caribbean.
To read any of our published output in full, please visit
www.capricaribbean.org/research
Contact us at:
info@capricaribbean.org
or by telephone at
(876) 970-3447 or (876) 970-2910