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Are Caribbean countries diverging or converging? evidence from spatial econometrics

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  • CRAIGWELL, ROLAND
  • MAURIN, ALAIN

Abstract

After gaining political independence from the European countries and the United States, the Caribbean Basin economies have at the end of the 2000s display considerable differences in income and living standards. In this paper the concepts of convergence are used to examine whether disparities in per capita GDP of selected countries in the Caribbean Community (CARICOM) have tended to diminish or not. It was shown, based on descriptive statistical methods, and spatial statistical and econometric tests of beta-convergence and sigma-convergence that there was an absence of convergence for CARICOM countries since the early 1980s. This is so even in the OECS group which are linked in a quasi monetary union framework.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 33433.

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Date of creation: 2011
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Publication status: Published in Journal of Business, Finance and Economics in Emerging Economies 1.6(2011): pp. 161-206
Handle: RePEc:pra:mprapa:33433

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Keywords: Spacial Economics; Caribbean; Convergence;

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  1. Fiona Atkins & Derick Boyd, 1998. "Convergence and the Caribbean," International Review of Applied Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 12(3), pages 381-396.
  2. Robert J. Barro & Xavier Sala-i-Martin, 1991. "Convergence across States and Regions," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 22(1), pages 107-182.
  3. Ramon Moreno & Bharat Trehan, 1997. "Location and the growth of nations," Working Papers in Applied Economic Theory, Federal Reserve Bank of San Francisco 97-02, Federal Reserve Bank of San Francisco.
  4. Wolfgang Keller, 2002. "Geographic Localization of International Technology Diffusion," American Economic Review, American Economic Association, American Economic Association, vol. 92(1), pages 120-142, March.
  5. Mauricio Mesquita Moreira & Eduardo Mendonza, 2007. "Regional Integration: What is in it for CARICOM?," JOURNAL OF LACEA ECONOMIA, LACEA - LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION.
  6. Islam, Nazrul, 1995. "Growth Empirics: A Panel Data Approach," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 110(4), pages 1127-70, November.
  7. Swan, Trevor W, 2002. "Economic Growth," The Economic Record, The Economic Society of Australia, The Economic Society of Australia, vol. 78(243), pages 375-80, December.
  8. Barro, Robert J & Sala-i-Martin, Xavier, 1992. "Convergence," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 100(2), pages 223-51, April.
  9. T. W. Swan, 1956. "ECONOMIC GROWTH and CAPITAL ACCUMULATION," The Economic Record, The Economic Society of Australia, The Economic Society of Australia, vol. 32(2), pages 334-361, November.
  10. Parikh, Ashok & Shibata, Miyuki, 2004. "Does trade liberalization accelerate convergence in per capita incomes in developing countries?," Journal of Asian Economics, Elsevier, Elsevier, vol. 15(1), pages 33-48, February.
  11. Latif A.G. Dramani, 2010. "Convergence and Economic Integration in Africa: the Case of the Franc Zone Countries," Research Papers, African Economic Research Consortium RP_200, African Economic Research Consortium.
  12. Emiliano Giudici & André Mollick, 2008. "Convergence in the Eastern Caribbean States," The Annals of Regional Science, Springer, Springer, vol. 42(4), pages 893-909, December.
  13. Stéphane VIROL, 2006. "Distance temps, discontinuité des interactions spatiales et concentration globale de l'espace européen," Revue d'économie régionale et urbaine, Armand Colin, Armand Colin, vol. 0(1), pages 7-26.
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  1. No convergence in the Caribbean
    by Economic Logician in Economic Logic on 2011-10-13 14:46:00

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