Aim of Project
The production of poultry meat is one of the largest areas of agriculture production in Barbados. In 2013, just over 13 million kilograms of chicken meat was produced, more than twice the amount of pork, beef, veal, mutton and turkey combined. The local chicken market is protected from significant competition from imported chicken since importing poultry is only permitted under special circumstances.
The goal of this project was to investigate the link between the imports of poultry, local production/sales and market prices.
What We Did
We employed a number of statistical techniques to investigate the relationship between poultry imports and various indicators of the performance of the domestic poultry industry. In addition to poultry imports, we also identified the other potential determinants of local production and sales of poultry.
The results of the analysis indicated that due to the relatively small amount of imports, there was little to no association between imports and domestic production/sales of poultry in Barbados. Instead, key supply-side determinants played a pivotal role, including the production of other meats and the price of poultry products.
Impact of Project
The results were used to help inform import and competition policies in the local poultry industry.
Aim of the Project
The financial system is one of the most important parts of an economy, governing all movements of capital between agents. It also provides useful indicators of the health of an economy and various groups such as government entities, private companies and individuals. Many observers of any economy will therefore pay close attention to developments that could affect the stability of the financial system.
Antilles Economics was engaged by an international body to develop a model of the financial system of Barbados and to conduct an analysis of its stability.
What We Did
This project required a number of modelling techniques, including both regression analysis and statistical analysis. The first step was to build a model that accurately captured the linkages between financial agents and the rest of the economy as well as between financial agents.
We then assessed whether various stakeholders in the economy were responding to legislative changes, economic developments, internal decisions or some combination of these.
Finally, we estimated the extent of the shock that would be required to cause the financial system to fail. We considered three types of shocks: those originating from outside of Barbados; those originating from within Barbados, but outside of the financial system; and, those originating from within the financial system itself.
Impact of the Project
The resulting model and analysis was used by our client to strengthen their surveillance of Barbados. It was also used to help our client determine what additional support it could provide to the Government of Barbados.