He attended Glenmuir High School, the University of the West Indies in Mona, St. Andrews.

From April 1993 to August 1993, he worked at the Office of the Prime Minister with an interest in Planning, Development and Project Implementation.

In December 1993, Davies became Minister of Finance and Planning, a position he held till 2007.

[2] Wesly Morris, writing for The Gleaner, was critical of Davies' tenure as finance minister, blaming him for the "breakdown in the Jamaican economy in the 1990s".

[3] Garfield Higgins of the Jamaica Observer called Davies "the worst financial minister since political independence", adding that his retirement "will mark the end of an era which thousands of Jamaicans will unhappily remember for many years to come.