Cultural Politics of Resilience in Kingston, Jamaica

Recently, resilience has become a catchall solution for some of the world’s most pressing ecological, economic and social problems. This dissertation analyzes the cultural politics of resilience in Kingston, Jamaica by examining them through their purported universal principles of adaptation and flexibility. On the one hand, mainstream development regimes conceptualize resilience as a necessary and positive attribute of economies, societies and cultures if we are to survive any number of disasters or disturbances. Therefore, in Jamaican cultural and development policy resilience is championed as both a means and an end of development. On the other hand, critics of resilience see the new rollout of resilience projects as deepening neoliberalism, capitalism and new forms of governmentality because resilience projects provide the terrain for new forms of securitization and surveillance practices. These scholars argue that resilience often forecloses the possibilities to resist that which threatens us. However, rather than dismissing resilience as solely a sign of domination and governmentality, this dissertation argues that resilience must be understood as much more ambiguous and complex, rather than within binaries such as subversion vs. neoliberal and resistance vs. resilience. Overly simplistic dualities of this nature have been the dominant approach in the scholarship thus far. This dissertation provides a close analysis of resilience in both multilateral and Jamaican government policy documents, while exploring the historical and contemporary production of resilience in the lives of marginalized populations. Through three sites within Kingston, Jamaica—namely dancehall and street dances, WMW-Jamaica and the activist platform SO((U))L HQ—this dissertation demonstrates that “resilience” is best understood as an ambiguous site of power negotiations, social reproduction and survival in Jamaica today. It is often precisely this ambiguous power of ordinary resilience that is capitalized on and exploited to the detriment of vulnerable groups. At once demonstrating creative negotiation and reproduction of colonial capitalist social relations within the realms of NGO, activist work and cultural production, this dissertation demonstrates the complexity of resilience. Ultimately, this dissertation draws attention to the importance of studying spaces of cultural production in order to understand the power and limits of contemporary policy discourses and political economy. 

International Capital Flows and Monetary Policy Spillovers

This dissertation examines the drivers and implications of international capital flows. The overarching motivation is the observation that countries not at the centre of global financial markets are subject to considerable spillovers from centre countries, notably from their monetary policy. I present new empirical evidence on the determinants of the observed patterns of international capital flows and monetary policy spillovers, and study their effect on both financial markets and the real economy. In Chapter 2 I provide evidence on the determinants of a puzzling negative correlation observed between productivity growth and net capital inflows to developing and emerging market economies (EMEs) since 1980. By disaggregating net capital inflows into their gross components, I show that this negative correlation is explained by capital outflows related to purchases of very liquid assets from the fastest growing countries. My results suggest a desire for international portfolio diversification in liquid assets by fast growing countries is driving much of the original puzzle. In the reminder of my dissertation I pivot to study the foreign characteristics that drive international capital flows and monetary policy spillovers, with a particular focus on the role of unconventional monetary policy in the United States (U.S.). In Chapter 3 I show that a significant portion of the heterogeneity in EMEs' asset price adjustment following the quantitative easing operations by the Federal Reserve (the Fed) during 2008-2014 can be explained by the degree of bilateral capital market frictions between these countries and the U.S. This is true even after accounting for capital controls, exchange rate regimes, and domestic monetary policies. Chapter 4, co-authored with Michal Ksawery Popiel, studies unconventional monetary policy in a small open economy, looking specifically at the case of Canada since the global financial crisis. We quantify the effect Canadian unconventional monetary policy shocks had on the real economy, while carefully controlling for and quantifying spillovers from U.S. unconventional monetary policy. Our results indicate that the Bank of Canada's unconventional monetary policy increased Canadian output significantly from 2009-2010, but that spillovers from the Fed's policy were even more important for increasing Canadian output after 2008.