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Caribbean Bananas: The Macroeconomic Impact of Trade Preference Erosion

Author

Listed:
  • Mr. Paul Cashin
  • Mr. Montfort Mlachila
  • Cleary Haines

Abstract

This paper examines the macroeconomic effects of the erosion of trade preferences, with a focus on the export of Caribbean bananas to Europe. Estimates are made of the magnitude of implicit assistance provided over a period of three decades to eastern Caribbean countries through banana trade preferences. The value of such assistance rose until the early 1990s, and has declined precipitously since then. Using vector autoregressive analysis, the paper finds that changes in the level of implicit assistance have had a considerable macroeconomic impact, especially on Caribbean real GDP growth.

Suggested Citation

  • Mr. Paul Cashin & Mr. Montfort Mlachila & Cleary Haines, 2010. "Caribbean Bananas: The Macroeconomic Impact of Trade Preference Erosion," IMF Working Papers 2010/059, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2010/059
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    Cited by:

    1. Deepraj Mukherjee, 2018. "Corruption in International Business: Does Economic Globalization Help?," Global Business Review, International Management Institute, vol. 19(3), pages 623-634, June.
    2. Bandiera, Antonella, 2021. "Deliberate displacement during conflict: Evidence from Colombia," World Development, Elsevier, vol. 146(C).
    3. Espinoza, Raphael & Prasad, Ananthakrishnan & Williams, Oral, 2011. "Regional financial integration in the GCC," Emerging Markets Review, Elsevier, vol. 12(4), pages 354-370.
    4. Ms. Nita Thacker & Mr. Sebastian Acevedo Mejia & Mr. Roberto Perrelli, 2012. "Caribbean Growth in an International Perspective: The Role of Tourism and Size," IMF Working Papers 2012/235, International Monetary Fund.
    5. Goohoon Kwon & Mr. Raphael A Espinoza, 2009. "Regional Financial Integration in the Caribbean: Evidence From Financial and Macroeconomic Data," IMF Working Papers 2009/139, International Monetary Fund.
    6. William Ridley & Farzana Shirin, 2025. "The effectiveness of development‐oriented nonreciprocal trade preferences in promoting agricultural trade," American Journal of Agricultural Economics, John Wiley & Sons, vol. 107(1), pages 81-107, January.
    7. Samuel Bazzi & Christopher Blattman, 2014. "Economic Shocks and Conflict: Evidence from Commodity Prices," American Economic Journal: Macroeconomics, American Economic Association, vol. 6(4), pages 1-38, October.

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