There is no debate, increases in labor productivity is a driver for economic growth for countries, particularly developing countries. There is also little debate that education and training is key to improving the productivity of labor as a resource.
You are asked to prepare a Position Paper looking at the relationship between labor productivity and economic growth in at least two (2) Caribbean and or Latin American countries and two (2) developed countries, at least one (1) of which is the United States. Your Position Paper should provide a comparative analysis across the mentioned countries.
Your Position Paper should address the following, inter alia:
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You are asked to outline and discuss the key drivers of labor productivity, including investment in education and training. Are these drivers the same in the case of developing and developed countries?
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Looking at The Bahamas, are the drivers impacting the labor productivity of relevance for the country?
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Looking at the countries that you have identified as part of your comparative analysis, discuss the impact or likely impact of changes in labor productivity on economic growth. Your discussion here should be supported by the relevant research.
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Taking at least two (2) Caribbean and or Latin American countries, discuss the impact of labor productivity changes on the following:
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Labor Supply
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Wage Levels
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Foreign Direct Investment
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What policy recommendations would you provide to ensure that countries maximize the benefits from its labor supply, with specific reference to the results you have found from your research on the link between labor productivity and economic growth?
Structure of a Position Paper
A Position Paper takes the form of an argumentative essay. Typically, you are required to present the Position Paper as a memorandum addressed to the Minister of Labor, outlining your argument in support of a given position. In the case of this assignment, your Position Paper is expected to address the questions outlined. It is a Position Paper and as such you are expected to provide a Position on the topic. To the extent that it takes the form of an argumentative essay, you are expected to cite opposing views in presenting your point.
You are also expected to cite various references in preparing your Paper.
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