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Jamaica: trade, integration and the quest for growth

Author

Listed:
  • Anneke Jessen

    (Instituto para la Integración de América Latina y el Caribe, INTAL)

  • Christopher Vignoles

    (Instituto para la Integración de América Latina y el Caribe, INTAL)

Abstract

Jamaica es una economía pequeña y abierta con uno de lo índices de PIB más altos en el hemisferio occidental. Dado que el comercio juega un rol dominante en la economía jamaiquina, éste también determina sustancialmente las perspectivas de desarrollo del país. La participación exitosa en la economía global a través del mejoramiento de la competitividad internacional, la facilitación del comercio y medidas relacionadas debiera ser, por lo tanto, el objetivo central de la estrategia de ayuda para Jamaica del Banco Interamericano de Desarrollo; particularmente en un momento cuando el país está enfrentando un rápido desgaste de las preferencias comerciales que sus exportadores disfrutaron por largo tiempo en los mayores mercados mundiales. Este documento analiza las tendencias recientes del comercio exterior de Jamaica, las políticas de desarrollo relacionadas y los esfuerzos de integración económica realizados por el país tanto a nivel regional como global. El objetivo es doble: identificar los cuellos de botella existentes para lograr la participación exitosa del país en la economía global, y reportar al proceso de programación y estrategia de país del BID, con miras a apoyar la remoción de tales cuellos. La Sección II destaca brevemente la importancia del comercio en la economía de Jamaica. Las Secciones III y IV analizan las tendencias en bienes y servicios de comercio a través de la década pasada, usando diferentes indicadores para medir el desempeño exportador del país. La Sección V discute las políticas comerciales y la integración económica de Jamaica con un enfoque sobre los varios acuerdos comerciales que ha firmado recientemente o están en proceso de negociación. La Sección VI examina el proceso de formulación de políticas comerciales nacionales y las principales instituciones involucradas en el proceso. La Sección VII resume las principales dificultades que Jamaica enfrenta en sus esfuerzos por lograr una inserción internacional exitosa e identifica algunas soluciones posibles. La Sección VIII discute el apoyo del BID a Jamaica en el área de comercio e integración; reseña brevemente las actividades de otras agencias multilaterales y de donantes y provee recomendaciones para una ayuda futura. El estudio se completa con dos Anexos: el primero brinda una visión general de los acuerdos comerciales de Jamaica con países socios y regiones; y el segundo presenta información complementaria y detallada sobre comercio = Jamaica is a small, open island economy with one of the highest trade/GDP ratios in the Western Hemisphere. Because trade plays such a dominant role in the Jamaican economy, it also substantially determines the country's development prospects. Successful participation in the global economy through enhanced international competitiveness, trade facilitation and related measures should therefore be a central aim of the Inter-American Development Bank's support strategy for Jamaica, particularly at a time when the country is facing the rapid erosion of trade preferences long enjoyed by its exporters in major world markets. This paper discusses recent trends in Jamaica's foreign trade, as well as related policy developments and economic integration efforts undertaken by the country both at the regional and global level. The aim is two-fold: to identify existing bottlenecks to the country's successful participation in the global economy, and to inform the IDB's country strategy and programming process with a view to supporting the removal of such bottlenecks. Section II briefly highlights the importance of trade in the Jamaican economy. Sections III and IV analyze trends in goods and services trade over the past decade, using different indicators to measure the country's export performance. Section V discusses Jamaica's trade and economic integration policies, focusing on the various trade agreements it has recently signed or is in the process of negotiating. Section VI examines the national trade policymaking process and the principal institutions involved in that process. Section VII summarizes the main difficulties faced by Jamaica in its efforts to achieve successful international insertion, and points to some possible solutions. Section VIII discusses the IDB's support to Jamaica in the area of trade and integration, briefly reviews the activities of other multilateral and donor agencies, and provides recommendations for future support. Two annexes complete the study: the first provides an overview of Jamaica's trade agreements with partner countries and regions; the second presents detailed and complementary trade data

Suggested Citation

  • Anneke Jessen & Christopher Vignoles, 2005. "Jamaica: trade, integration and the quest for growth," INTAL Working Papers 1264, Inter-American Development Bank, INTAL.
  • Handle: RePEc:idb:intalp:1264
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    References listed on IDEAS

    as
    1. Julio J. Nogués, 2004. "Agricultural Exporters in a Protectionist World: Review and Policy Implications of Barriers Against Mercosur," IDB Publications (Working Papers) 2651, Inter-American Development Bank.
    2. Martin Cicowiez & Onil Banerjee & Emily Morris, 2017. "Boosting Tourism's Contribution to Growth and Development: Analysis of Evidence," IDB Publications (Working Papers) 8423, Inter-American Development Bank.
    3. Marcelo de Paiva Abreu, 2004. "The Political Economy of High Protection in Brazil before 1987," IDB Publications (Working Papers) 2641, Inter-American Development Bank.
    4. Mauricio Mesquita Moreira, 2004. "Brazil’s Trade Liberalization and Growth: Has it Failed?," International Trade 0412008, EconWPA.
    5. Esteradeordal, Antoni & Goto, Junichi, 2001. "The New Regionalism in the Americas: The Case of Mercosur," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 16, pages 180-202.
    6. Julio J. Nogués, 2004. "Agricultural Exporters in a Protectionist World: Review and Policy Implications of Barriers Against Mercosur," IDB Publications (Working Papers) 9386, Inter-American Development Bank.
    7. Marcelo de Paiva Abreu, 2004. "The Political Economy of High Protection in Brazil before 1987," IDB Publications (Working Papers) 9375, Inter-American Development Bank.
    8. repec:idb:brikps:8285 is not listed on IDEAS
    9. Robert Devlin & Ricardo Ffrench-Davis, 1999. "Towards an Evaluation of Regional Integration in Latin America in the 1990s," The World Economy, Wiley Blackwell, vol. 22(2), pages 261-290, March.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    POLITICA COMERCIAL; COMERCIO EXTERIOR; NEGOCIACIONES COMERCIALES; ACCESO A LOS MERCADOS; COMERCIO DE SERVICIOS;

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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