ABSTRACT: Measures of Economics Efficiency [EE], Pure Technical Efficiency [PTE] and Allocative Efficiency [AE] in Guyana and the rest of Caricom [ROC], represented by six countries, over the period 2008-2022, determined using nonparametric methods, showed that each measure of efficiency was higher in ROC than in Guyana each year over the period. Neither bloc showed an increase in Economic Efficiency over the period and the EE trend lines showed a divergent trajectory from Year 2008 onwards.  

Regression results shows that market size in the market group, tax on income, profit and capital gains in the monetary/fiscal policy group, tax on trade and the exchange rate in the trade policy group, literacy rate and access to credit in the private sector/human capital group, gross fixed capital formation in the infrastructure group, each had a greater impact on efficiency gain in Guyan compared with ROC. On the other hand, access to electricity in the infrastructure group had a greater impact on efficiency in ROC.  Efficiency gain was greater in the agriculture sector in Guyana, and in ROC, the service sector showed higher efficiency gains. 

Keywords: Caribbean, Rest of Caricom, pure technical efficiency, allocative efficiency, economic efficiency.