In December 2016, months after I started writing this column, I expressed my disappointment with some of the national institutions meant to support economic growth and development. My contention was that many of our national institutions continue to fail us by their underperformance. I suggested this failure is one of the reasons we struggle to find a steady and sustainable path to economic development and prosperity.
The important role that institutions can play in determining a country’s economic and development trajectory was recently given attention by the Inter-American Development Bank or IDB. The IDB is one of the Washington-based multilaterals that also operate in the Caribbean.