ECONOMIST WHO LED PRESIDENT BARACK OBAMA’S TRANSITION TEAM TO VISIT BARBADOS

A leading American University Dean and economist who argues that clarity, discipline and trust are at the heart of the economic growth and development, not austerity, will be in Barbados in March.

Jamaican-born Dr. Peter Blair Henry, Dean of New York University’s Leonard N. Stern School of Business, an expert on the global economy, leader of US President Barack Obama’s 2008 transition team and author of the provocative best seller, Turn Around: Third World Lessons for First World Growth will be a on a short sabbatical to the Central Bank of Barbados from March 14 to 25.

Dr. Henry posits that emerging markets were able to achieve remarkable economic success through the application of three key principles: discipline–a sustained commitment to a pragmatic growth strategy that is vigilant, flexible, and values what is good for the country as a whole over what’s good for any individual or interest group; clarity–a clear commitment by the country’s leaders to a change of direction; and trust–between citizens and their government, for example, or between two countries.

He argues further, “good economic policy requires not much the bravado to implement drastic change as the strength and wisdom to make reasonable trade-offs over the many years it takes to transform the country’s standard of living.”

In Turn Around: Third World Lessons for First World Growth, Dr. Henry also relates the story of the effectiveness of Barbados’ home-grown solutions to the economic crisis in the 1990’s to demonstrate that policies, not institutions, are also key to economic growth.

A proponent of emerging markets having a more significant voice at international institutions, Dr. Henry is viewed as an economist who thinks very deeply about developing countries. “A superb and highly productive economics scholar, a natural leader, a community builder, and a manifestly good person,” is how he has been described in academic and professional circles.

While in Barbados, Dr. Henry will engage in a series of seminars and workshops for economists, businesspeople, the media, university students and technocrats. The highlight of his visit is an hour and a half long interview-styled forum with veteran journalist, Julian Rogers and a studio panel on Thursday, March 19 from 8:00 p.m. until 9:30 p.m. The Caribbean Economic Forum will be broadcast live on local and regional radio and television stations, and streamed on the bank’s website www.centralbank.org.bb.

Governor Dr. DeLisle Worrell hailed Dr. Henry’s visit as yet another pathbreaking activity by the Bank to expose Barbadians and Caribbean people to new intellectual thought and ideas that will widen the discussion on pertinent economic matters.

For further information on Dr. Henry’s sabbatical, visit www.centralbank.org.bb. Persons wishing to participate in the Caribbean Economic Forum as a member of the studio audience can contact Ms. Dale Christie-Bourne at dale.christiebourne@centralbank.org.bb or at 246-227-8371.

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