Globalization Equity and Justice in Small Nation States
AbstractThe effects of globalization on smaller nation Caribbean states have not been thoroughly examined, and the trade performance of these states has not been evaluated since the WTO came into existence. In this paper, we report on a study that conducted a comparative analysis of selected Caribbean nation states with other countries at different stages of development to determine their levels of performance from 1990 to 1995, the period before the WTO began full operation, and the period 1996 to 2002, the period after globalization. The selected Caribbean countries were Cuba, Haiti, Dominican Republic, Jamaica, Trinidad and Tobago, and Suriname. The measures for comparison are changes in GDP per capita, capital investment as a percentage of GDP, foreign direct investment, current account balance, trade balance, export services, infant mortality, literacy rates, and agricultural and service labor force change. We also compared the economic and social performance of these countries with those of selected countries of North America, South and Central America, Europe, Asia, and Africa. The economic performance of the Caribbean states varied and compared favorably with other developing economies and developed economies, but the socioeconomic indicators worsened for Suriname and other nation states. The current account and the trade balances were negative for Cuba, Haiti, Jamaica, Dominican Republic, Guyana and Trinidad and Tobago, in spite of their positive changes in GDP per capita since the WTO came into operation. No factors provide evidence of how well the countries are likely to perform in the future with the implementation of the WTO. In general, the Caribbean states performed worse before, rather than after, the implementation of the WTO. Model results show that the Caribbean states should concentrate on the export of services and the increase of the agricultural labor force to stimulate significant economic growth. The factors influencing the growth of other regions vary, but export of services seemed to have a general effect on economic growth. In terms of social indicator improvement, countries in Asia and Africa should reduce infant mortality while North America and South America could benefit from improvement in literacy rates.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Caribbean Agro-Economic Society in its journal Farm and Business - The Journal of The Caribbean Agro-Economic Society.
Volume (Year): 7 (2007)
Issue (Month): 1 (June)
Caribbean states; regression analysis; globalization; equity.; Agricultural and Food Policy; Agricultural Finance; International Development;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Nerlove, Marc, 1971. "A Note on Error Components Models," Econometrica, Econometric Society, vol. 39(2), pages 383-96, March.
- Ben-David, Dan & Loewy, Michael B, 2000.
"Knowledge Dissemination, Capital Accumulation, Trade, and Endogenous Growth,"
Oxford Economic Papers,
Oxford University Press, vol. 52(4), pages 637-50, October.
- Ben-David, Dan & Loewy, Michael B, 1996. "Knowledge Dissemination, Capital Accumulation, Trade and Endogenous Growth," CEPR Discussion Papers 1335, C.E.P.R. Discussion Papers.
- Ben-David, D & Loewy, M-B, 1997. "Knowledge Dissemination, Capital Accumulation, Trade, and Endogenous Growth," Papers 3-97, Tel Aviv - the Sackler Institute of Economic Studies.
- Romer, Paul, 1994.
"New goods, old theory, and the welfare costs of trade restrictions,"
Journal of Development Economics,
Elsevier, vol. 43(1), pages 5-38, February.
- Paul M. Romer, 1994. "New Goods, Old Theory, and the Welfare Costs of Trade Restrictions," NBER Working Papers 4452, National Bureau of Economic Research, Inc.
- Delgado, Christopher L. & Hopkins, Jane & Kelly , Valerie & Hazell, P. B. R. & McKenna, Anna A. & Gruhn, Peter & Hojjati, Behjat & Sil, Jayashree & Courbois, Claude, 1998. "Agricultural growth linkages in Sub-Saharan Africa:," Research reports 107, International Food Policy Research Institute (IFPRI).
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.