Part 7
Introduction
Under the miscellaneous category of economic-structural challenges and threats to macroeconomic stability over the near to medium-term, last week I considered those posed by three “crime-driven sectors,” for want of a better of label. These were the underground economy, remittance flows, and markets indicating characteristics of economic bubbles. I argued that, because crime is the main, if not the only driver of outcomes in these sectors, incentives, as well as motivations and behaviours of participants differ from those in the official/formal economy. And, because these sectors continually interact with the official/formal economy in real time, they pose serious risks to economic stability.
This week I consider three more items in this miscellaneous grouping, and begin next week to wrap-up this ongoing assessment of risks confronting the Guyana economy. The three items dealt with today are: the tax system,
