A Caribbean Settlement Network: Can Blockchain Ease Intra-regional Trade in the Caribbean?
This paper analyzes the potential effects that distributed ledger technology (DLT) could have on intraregional trade volumes in the Caribbean. Using a two-step panel regression gravity model for 15 CARICOM countries, the analysis finds that non-tariff barriers, such as distance and culture, bilateral exchange rates, transfer fees, and required documentation, have negative effects on trade. There are a rising number of pilot projects across the world that apply DLT for payment settlemetns and trade facilitation. These are starting to generate encouraging evidence that the application of DLT could indeed help reduce the prevalence of some of these NTBs and thus promote trade.
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Language: | English |
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Inter-American Development Bank
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Subjects: | Regional Integration, Trade Facilitation, Blockchain, Intra-Regional Trade, Non-Tariff Barrier, O31 - Innovation and Invention: Processes and Incentives, F14 - Empirical Studies of Trade, F47 - Forecasting and Simulation: Models and Applications, F15 - Economic Integration, O10 - Economic Development: General, F17 - Trade Forecasting and Simulation, Y80 - Related Disciplines, Trade;blockchain;Caribbean;non-tariff barriers;CARICOM;Distributed Ledger Technology, |
Online Access: | http://dx.doi.org/10.18235/0002643 https://publications.iadb.org/en/caribbean-settlement-network-can-blockchain-ease-intra-regional-trade-caribbean |
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dig-bid-node-288522020-11-10T17:38:32ZA Caribbean Settlement Network: Can Blockchain Ease Intra-regional Trade in the Caribbean? 2020-09-16T00:00:00+0000 http://dx.doi.org/10.18235/0002643 https://publications.iadb.org/en/caribbean-settlement-network-can-blockchain-ease-intra-regional-trade-caribbean Inter-American Development Bank Regional Integration Trade Facilitation Blockchain Intra-Regional Trade Non-Tariff Barrier O31 - Innovation and Invention: Processes and Incentives F14 - Empirical Studies of Trade F47 - Forecasting and Simulation: Models and Applications F15 - Economic Integration O10 - Economic Development: General F17 - Trade Forecasting and Simulation Y80 - Related Disciplines Trade;blockchain;Caribbean;non-tariff barriers;CARICOM;Distributed Ledger Technology This paper analyzes the potential effects that distributed ledger technology (DLT) could have on intraregional trade volumes in the Caribbean. Using a two-step panel regression gravity model for 15 CARICOM countries, the analysis finds that non-tariff barriers, such as distance and culture, bilateral exchange rates, transfer fees, and required documentation, have negative effects on trade. There are a rising number of pilot projects across the world that apply DLT for payment settlemetns and trade facilitation. These are starting to generate encouraging evidence that the application of DLT could indeed help reduce the prevalence of some of these NTBs and thus promote trade. Inter-American Development Bank Marcos Allende López Antonio Alleyne Laura Giles Álvarez Jeetendra Khadan Kimberly Waithe application/pdf IDB Publications Trinidad and Tobago Jamaica Guyana Bahamas Barbados Suriname The Caribbean en |
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Regional Integration Trade Facilitation Blockchain Intra-Regional Trade Non-Tariff Barrier O31 - Innovation and Invention: Processes and Incentives F14 - Empirical Studies of Trade F47 - Forecasting and Simulation: Models and Applications F15 - Economic Integration O10 - Economic Development: General F17 - Trade Forecasting and Simulation Y80 - Related Disciplines Trade;blockchain;Caribbean;non-tariff barriers;CARICOM;Distributed Ledger Technology Regional Integration Trade Facilitation Blockchain Intra-Regional Trade Non-Tariff Barrier O31 - Innovation and Invention: Processes and Incentives F14 - Empirical Studies of Trade F47 - Forecasting and Simulation: Models and Applications F15 - Economic Integration O10 - Economic Development: General F17 - Trade Forecasting and Simulation Y80 - Related Disciplines Trade;blockchain;Caribbean;non-tariff barriers;CARICOM;Distributed Ledger Technology |
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Regional Integration Trade Facilitation Blockchain Intra-Regional Trade Non-Tariff Barrier O31 - Innovation and Invention: Processes and Incentives F14 - Empirical Studies of Trade F47 - Forecasting and Simulation: Models and Applications F15 - Economic Integration O10 - Economic Development: General F17 - Trade Forecasting and Simulation Y80 - Related Disciplines Trade;blockchain;Caribbean;non-tariff barriers;CARICOM;Distributed Ledger Technology Regional Integration Trade Facilitation Blockchain Intra-Regional Trade Non-Tariff Barrier O31 - Innovation and Invention: Processes and Incentives F14 - Empirical Studies of Trade F47 - Forecasting and Simulation: Models and Applications F15 - Economic Integration O10 - Economic Development: General F17 - Trade Forecasting and Simulation Y80 - Related Disciplines Trade;blockchain;Caribbean;non-tariff barriers;CARICOM;Distributed Ledger Technology Inter-American Development Bank A Caribbean Settlement Network: Can Blockchain Ease Intra-regional Trade in the Caribbean? |
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This paper analyzes the potential effects that distributed ledger technology (DLT) could have on intraregional trade volumes in the Caribbean. Using a two-step panel regression gravity model for 15 CARICOM countries, the analysis finds that non-tariff barriers, such as distance and culture, bilateral exchange rates, transfer fees, and required documentation, have negative effects on trade. There are a rising number of pilot projects across the world that apply DLT for payment settlemetns and trade facilitation. These are starting to generate encouraging evidence that the application of DLT could indeed help reduce the prevalence of some of these NTBs and thus promote trade. |
author2 |
Marcos Allende López |
author_facet |
Marcos Allende López Inter-American Development Bank |
topic_facet |
Regional Integration Trade Facilitation Blockchain Intra-Regional Trade Non-Tariff Barrier O31 - Innovation and Invention: Processes and Incentives F14 - Empirical Studies of Trade F47 - Forecasting and Simulation: Models and Applications F15 - Economic Integration O10 - Economic Development: General F17 - Trade Forecasting and Simulation Y80 - Related Disciplines Trade;blockchain;Caribbean;non-tariff barriers;CARICOM;Distributed Ledger Technology |
author |
Inter-American Development Bank |
author_sort |
Inter-American Development Bank |
title |
A Caribbean Settlement Network: Can Blockchain Ease Intra-regional Trade in the Caribbean? |
title_short |
A Caribbean Settlement Network: Can Blockchain Ease Intra-regional Trade in the Caribbean? |
title_full |
A Caribbean Settlement Network: Can Blockchain Ease Intra-regional Trade in the Caribbean? |
title_fullStr |
A Caribbean Settlement Network: Can Blockchain Ease Intra-regional Trade in the Caribbean? |
title_full_unstemmed |
A Caribbean Settlement Network: Can Blockchain Ease Intra-regional Trade in the Caribbean? |
title_sort |
caribbean settlement network: can blockchain ease intra-regional trade in the caribbean? |
publisher |
Inter-American Development Bank |
url |
http://dx.doi.org/10.18235/0002643 https://publications.iadb.org/en/caribbean-settlement-network-can-blockchain-ease-intra-regional-trade-caribbean |
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AT interamericandevelopmentbank acaribbeansettlementnetworkcanblockchaineaseintraregionaltradeinthecaribbean AT interamericandevelopmentbank caribbeansettlementnetworkcanblockchaineaseintraregionaltradeinthecaribbean |
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1806237663334760448 |