The Entrepreneurial Journey in Jamaica: When Policies Derail describes the collapse of Jamaica's domestic financial sector in the 1990s through the eyes of one who experienced it head-on. Tracing this autobiographical journey into his professional and business life, Dr. Chen-Young has had an outstanding professional career, which culminated when he established the Eagle Merchant Bank in 1982, a pioneering company that led to the Eagle financial group of companies. This largely successful business venture eventually collapsed in 1997, when a financial crisis hit Jamaica, wiping out virtually all of the domestic financial entities.
Dr. Chen-Young takes his readers through Eagle's humble beginnings, its financial heyday, and the company's eventual demise. With expert analysis and firsthand experience, Chen-Young examines the circumstances and the financial policies of the 1990s that led to the financial crisis in Jamaica and its crushing aftermath. He also includes court submissions regarding lawsuits filed against him by government agencies in Jamaica, so that the public can be fully informed of the facts and legal issues surrounding these cases.
About the Author
Dr. Paul Chen-Young began his career with the World Bank in 1966, and then moved into senior management positions in Jamaica at the Development Finance Corporation, Lai Corporation, and Workers Savings and Loan Bank. He started his own business in 1975 with an economic and financial consulting firm, Chen-Young Associates, followed by the stockbroking firm Paul Chen-Young and Co.
He has received many awards for his contribution to Jamaica's development and has served on numerous public sector boards. He is the author of various publications, the latest being "With All Good Intentions: The Collapse of Jamaica's Domestic Financial Sector (November, 1998)," as one of the policy papers on the Americas for the Centre for Strategic International Studies in Washington, D.C.