IDEAS home Printed from https://ideas.repec.org/a/ags/fabtho/36800.html
   My bibliography  Save this article

Globalization Equity and Justice in Small Nation States

Author

Listed:
  • Jolly, Curtis M.
  • Bayard, Budry
  • Ligeon, Carel
  • Keefe, Alison M.

Abstract

The 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.

Suggested Citation

  • Jolly, Curtis M. & Bayard, Budry & Ligeon, Carel & Keefe, Alison M., 2007. "Globalization Equity and Justice in Small Nation States," Farm and Business - The Journal of the Caribbean Agro-Economic Society, Caribbean Agro-Economic Society, vol. 7(1), pages 1-18.
  • Handle: RePEc:ags:fabtho:36800
    DOI: 10.22004/ag.econ.36800
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/36800/files/Farm%20and%20Business%202007%207%201%2034-50.pdf
    Download Restriction: no

    File URL: https://libkey.io/10.22004/ag.econ.36800?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. 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 637-650, October.
    2. 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).
    3. 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.
    4. Nerlove, Marc, 1971. "A Note on Error Components Models," Econometrica, Econometric Society, vol. 39(2), pages 383-396, March.
    5. Winters, L. Alan, 2000. "Trade, Trade Policy and Poverty: What Are The Links?," CEPR Discussion Papers 2382, C.E.P.R. Discussion Papers.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Alemayehu Geda, 2006. "Openness, Inequality and Poverty in Africa," Working Papers 25, United Nations, Department of Economics and Social Affairs.
    2. L. Alan Winters, 2000. "Trade Liberalisation and Poverty," PRUS Working Papers 07, Poverty Research Unit at Sussex, University of Sussex.
    3. L. ALAN WINTERS & NEIL McCULLOCH & ANDREW McKAY, 2015. "Trade Liberalization and Poverty: The Evidence So Far," World Scientific Book Chapters, in: Non-Tariff Barriers, Regionalism and Poverty Essays in Applied International Trade Analysis, chapter 14, pages 271-314, World Scientific Publishing Co. Pte. Ltd..
    4. Pierluigi Montalbano & Alessandro Federici & Umberto Triulzi & Carlo Pietrobelli, 2005. "Trade Openness and Vulnerability in Central and Eastern Europe," WIDER Working Paper Series RP2005-43, World Institute for Development Economic Research (UNU-WIDER).
    5. Ben-David, Dan & Loewy, Michael B, 1998. "Free Trade, Growth, and Convergence," Journal of Economic Growth, Springer, vol. 3(2), pages 143-170, June.
    6. Marijke J.D. Bos & Gonzague Vannoorenberghe, 2019. "Imported input varieties and product innovation: Evidence from five developing countries," Review of International Economics, Wiley Blackwell, vol. 27(2), pages 520-548, May.
    7. Kumar, Sanjesh & Singh, Baljeet, 2019. "Barriers to the international diffusion of technological innovations," Economic Modelling, Elsevier, vol. 82(C), pages 74-86.
    8. Carolyn Evans, 2006. "Border effects and the availability of domestic products abroad," Canadian Journal of Economics, Canadian Economics Association, vol. 39(1), pages 211-246, February.
    9. Kym Anderson, 2005. "On the Virtues of Multilateral Trade Negotiations," The Economic Record, The Economic Society of Australia, vol. 81(255), pages 414-438, December.
    10. Dong Kim, 2012. "What is an oil shock? Panel data evidence," Empirical Economics, Springer, vol. 43(1), pages 121-143, August.
    11. Andrea Vaona & Mario Pianta, 2008. "Firm Size and Innovation in European Manufacturing," Small Business Economics, Springer, vol. 30(3), pages 283-299, March.
    12. Claudio O. Delang, 2006. "The role of wild food plants in poverty alleviation and biodiversity conservation in tropical countries," Progress in Development Studies, , vol. 6(4), pages 275-286, October.
    13. Toru Kikuchi, 2010. "A simple model of foreign brand penetration under monopolistic competition," Journal of Economics, Springer, vol. 100(3), pages 235-245, July.
    14. Andres Rodriguez-Clare, 1996. "The role of trade in technology diffusion," Discussion Paper / Institute for Empirical Macroeconomics 114, Federal Reserve Bank of Minneapolis.
    15. Miet Maertens, 2009. "Horticulture exports, agro‐industrialization, and farm–nonfarm linkages with the smallholder farm sector: evidence from Senegal," Agricultural Economics, International Association of Agricultural Economists, vol. 40(2), pages 219-229, March.
    16. Jensen, Jesper & Rutherford, Thomas & Tarr, David, 2005. "Telecommunications reform within Russia's accession to the World Trade Organization," Policy Research Working Paper Series 3501, The World Bank.
    17. A. U. Santos-Paulino, 2002. "Trade Liberalisation and Export Performance in Selected Developing Countries," Journal of Development Studies, Taylor & Francis Journals, vol. 39(1), pages 140-164.
    18. Chaudhuri, Sarbajit, 2004. "International Migration of Skilled and Unskilled Labour, Welfare and Skilled-unskilled Wage Inequality: a Simple Model," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 19, pages 726-741.
    19. Friedrich Schneider & Dominik Enste, 1999. "Shadow Economies Around the World - Size, Causes, and Consequences," CESifo Working Paper Series 196, CESifo.
    20. Wolfgang Keller, 2002. "Geographic Localization of International Technology Diffusion," American Economic Review, American Economic Association, vol. 92(1), pages 120-142, March.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:fabtho:36800. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: . General contact details of provider: https://edirc.repec.org/data/caestea.html .

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/caestea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.