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Central America, Panama, and the Dominican Republic

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  • Stephanie Medina Cas
  • Andrew Swiston
  • Luis-Diego Barrot

Abstract

This paper studies the potential for the export sector to play a more important role in promoting growth in Central America, Panama, and the Dominican Republic (CAPDR) through deeper intra-regional and global trade integration. CAPDR countries have enacted many free trade agreements and other regional integration initiatives in recent years, but this paper finds that their exports remain below the norm for countries of their size. Several indexes of outward orientation are constructed and suggest that the breadth of geographic trading relationships, depth of integration into global production chains, and degree of technological sophistication of exports in CAPDR are less conducive to higher exports and growth than in fast-growing, export-oriented economies. To boost exports and growth, CAPDR should implement policies to facilitate economic integration, particularly building a customs union, harmonizing trade rules, improving logistics and infrastructure, and enhancing regional cordination.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 12/234.

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Length: 40
Date of creation: 27 Sep 2012
Date of revision:
Handle: RePEc:imf:imfwpa:12/234

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Related research

Keywords: Trade integration; Economic growth; Central America; Panama; Dominican Republic; Export sector; Bilateral trade agreements; International trade agreements; Exports; Free trade agreements; Costa Rica; El Salvador; Guatemala; Honduras; Nicaragua; regional integration; free trade area; global production chains; non-tariff barriers; terms of trade; economic integration; trade logistics; trade links; global trade; tariff rates; external openness; export growth; multilateral trade; domestic market; trading arrangements; intellectual property rights; investor protection; regional trade; export structure; external tariff; trade relationships; commercial policy; trade negotiations; per capita income; competition policy; multilateral trade agreements; multilateral initiatives; trade rules; agricultural exports; regional trade integration; open economies; import tariffs; common market; trade blocs;

References

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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.:
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  1. Barro, Robert J. & Lee, Jong Wha, 2013. "A new data set of educational attainment in the world, 1950–2010," Journal of Development Economics, Elsevier, Elsevier, vol. 104(C), pages 184-198.
  2. Robert C. Feenstra & Robert E. Lipsey & Haiyan Deng & Alyson C. Ma & Hengyong Mo, 2005. "World Trade Flows: 1962-2000," NBER Working Papers 11040, National Bureau of Economic Research, Inc.
  3. Alesina, Alberto & Wacziarg, Romain, 1998. "Openness, country size and government," Journal of Public Economics, Elsevier, Elsevier, vol. 69(3), pages 305-321, September.
  4. Andrew Swiston & Luis-Diego Barrot, 2011. "The Role of Structural Reforms in Raising Economic Growth in Central America," IMF Working Papers 11/248, International Monetary Fund.
  5. Mishra, Saurabh & Lundstrom, Susanna & Anand, Rahul, 2011. "Service export sophistication and economic growth," Policy Research Working Paper Series 5606, The World Bank.
  6. Brenton, Paul & Newfarmer, Richard & Walkenhorst, Peter, 2009. "Avenues for Export Diversification: Issues for Low-Income Countries," MPRA Paper 22758, University Library of Munich, Germany.
  7. Asier Minondo, 2010. "Exports' quality-adjusted productivity and economic growth," The Journal of International Trade & Economic Development, Taylor & Francis Journals, Taylor & Francis Journals, vol. 19(2), pages 257-287.
  8. Brenton, Paul & Newfarmer, Richard, 2007. "Watching more than the Discovery channel : export cycles and diversification in development," Policy Research Working Paper Series 4302, The World Bank.
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