Regional Integration: What is in it for CARICOM?
Economic and political integration have been a perennial and neuralgic issue in the Caribbean agenda. This paper draws on the literature on trade, growth and regional agreements to discuss the motivation behind the Caribbean drive for integration, the results obtained so far and what is in stock for the future. It argues, with the help of descriptive statistics, an empirical growth model and a gravity model, that the traditional, trade related gains from regional integration have been and are bound to be limited because of (1) the countries¿ high openness; (2) the limited size of the "common", enlarged market; and (3) the countries¿ relatively similar factor endowments. It also argues, though, that gains in the area of "non-tradables", due to economies of scale which cannot be mitigated by trade and openness, can be substantial.
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Format: | Working Papers biblioteca |
Language: | English |
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Inter-American Development Bank
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Subjects: | Integration and Trade, CARICOM;Acuerdos Comerciales;INTAL ITD Working Paper N° 29;Comercio;INTAL;Integración Regional, |
Online Access: | http://dx.doi.org/10.18235/0011109 https://publications.iadb.org/en/regional-integration-what-it-caricom |
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dig-bid-node-104562024-05-30T20:25:17ZRegional Integration: What is in it for CARICOM? 2007-04-02T00:00:00+0000 http://dx.doi.org/10.18235/0011109 https://publications.iadb.org/en/regional-integration-what-it-caricom Inter-American Development Bank Integration and Trade CARICOM;Acuerdos Comerciales;INTAL ITD Working Paper N° 29;Comercio;INTAL;Integración Regional Economic and political integration have been a perennial and neuralgic issue in the Caribbean agenda. This paper draws on the literature on trade, growth and regional agreements to discuss the motivation behind the Caribbean drive for integration, the results obtained so far and what is in stock for the future. It argues, with the help of descriptive statistics, an empirical growth model and a gravity model, that the traditional, trade related gains from regional integration have been and are bound to be limited because of (1) the countries¿ high openness; (2) the limited size of the "common", enlarged market; and (3) the countries¿ relatively similar factor endowments. It also argues, though, that gains in the area of "non-tradables", due to economies of scale which cannot be mitigated by trade and openness, can be substantial. Inter-American Development Bank Eduardo Mendoza Mauricio Mesquita Moreira Working Papers application/pdf IDB Publications en |
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Integration and Trade CARICOM;Acuerdos Comerciales;INTAL ITD Working Paper N° 29;Comercio;INTAL;Integración Regional Integration and Trade CARICOM;Acuerdos Comerciales;INTAL ITD Working Paper N° 29;Comercio;INTAL;Integración Regional |
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Integration and Trade CARICOM;Acuerdos Comerciales;INTAL ITD Working Paper N° 29;Comercio;INTAL;Integración Regional Integration and Trade CARICOM;Acuerdos Comerciales;INTAL ITD Working Paper N° 29;Comercio;INTAL;Integración Regional Inter-American Development Bank Regional Integration: What is in it for CARICOM? |
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Economic and political integration have been a perennial and neuralgic issue in the Caribbean agenda. This paper draws on the literature on trade, growth and regional agreements to discuss the motivation behind the Caribbean drive for integration, the results obtained so far and what is in stock for the future. It argues, with the help of descriptive statistics, an empirical growth model and a gravity model, that the traditional, trade related gains from regional integration have been and are bound to be limited because of (1) the countries¿ high openness; (2) the limited size of the "common", enlarged market; and (3) the countries¿ relatively similar factor endowments. It also argues, though, that gains in the area of "non-tradables", due to economies of scale which cannot be mitigated by trade and openness, can be substantial. |
author2 |
Eduardo Mendoza |
author_facet |
Eduardo Mendoza Inter-American Development Bank |
format |
Working Papers |
topic_facet |
Integration and Trade CARICOM;Acuerdos Comerciales;INTAL ITD Working Paper N° 29;Comercio;INTAL;Integración Regional |
author |
Inter-American Development Bank |
author_sort |
Inter-American Development Bank |
title |
Regional Integration: What is in it for CARICOM? |
title_short |
Regional Integration: What is in it for CARICOM? |
title_full |
Regional Integration: What is in it for CARICOM? |
title_fullStr |
Regional Integration: What is in it for CARICOM? |
title_full_unstemmed |
Regional Integration: What is in it for CARICOM? |
title_sort |
regional integration: what is in it for caricom? |
publisher |
Inter-American Development Bank |
url |
http://dx.doi.org/10.18235/0011109 https://publications.iadb.org/en/regional-integration-what-it-caricom |
work_keys_str_mv |
AT interamericandevelopmentbank regionalintegrationwhatisinitforcaricom |
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