Regional Integration: What is in it for CARICOM?
Economic and political integration have been a perennial and neuralgic issue in the caribbean agenda. This paper draws on the literature on trade, growth and regional agreements to discuss the motivation behind the caribbean drive for integration, the results obtained so far and what is in stock for the future. It argues, with the help of descriptive statistics, an empirical growth model and a gravity model, that the traditional, trade related gains from regional integration have been and are bound to be limited because of (1) the countries´ high openness; (2) the limited size of the "common", enlarged market; and (3) the countries´ relatively similar factor endowments. It also argues, though, that gains in the area of "non-tradables" , due to economies of scale which cannot be mitigated by trade and openness, can be substantial.
Volume (Year): Volume 8 Number 1 (2007)
Issue (Month): Fall 2007 (August)
|Contact details of provider:|| |
When requesting a correction, please mention this item's handle: RePEc:col:000425:008636. 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: (Roberto Bernal)
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.