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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.

Suggested Citation

  • Craigwell, Roland & Maurin, Alain, 2011. "Are Caribbean countries diverging or converging? evidence from spatial econometrics," MPRA Paper 33433, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:33433
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    File URL: https://mpra.ub.uni-muenchen.de/33433/1/MPRA_paper_33433.pdf
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    References listed on IDEAS

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    1. Swan, Trevor W, 2002. "Economic Growth," The Economic Record, The Economic Society of Australia, vol. 78(243), pages 375-380, December.
    2. Moreno, Ramon & Trehan, Bharat, 1997. "Location and the Growth of Nations," Journal of Economic Growth, Springer, vol. 2(4), pages 399-418, December.
    3. Wolfgang Keller, 2002. "Geographic Localization of International Technology Diffusion," American Economic Review, American Economic Association, vol. 92(1), pages 120-142, March.
    4. Emiliano Giudici & André Mollick, 2008. "Convergence in the Eastern Caribbean States," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 42(4), pages 893-909, December.
    5. 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.
    6. Mauricio Mesquita Moreira & Eduardo Mendoza, 2007. "Regional Integration: What is in it for CARICOM?," ECONOMIA JOURNAL, THE LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION - LACEA, vol. 0(Fall 2007), pages 97-142, August.
    7. Latif A.G. Dramani, 2010. "Convergence and Economic Integration in Africa: the Case of the Franc Zone Countries," Research Papers RP_200, African Economic Research Consortium.
    8. Fiona Atkins & Derick Boyd, 1998. "Convergence and the Caribbean," International Review of Applied Economics, Taylor & Francis Journals, vol. 12(3), pages 381-396.
    9. Parikh, Ashok & Shibata, Miyuki, 2004. "Does trade liberalization accelerate convergence in per capita incomes in developing countries?," Journal of Asian Economics, Elsevier, vol. 15(1), pages 33-48, February.
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    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. No convergence in the Caribbean
      by Economic Logician in Economic Logic on 2011-10-13 19:46:00

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    Cited by:

    1. Nicolas Péridy & Mohamed Hazem & Marc Brunetto, 2013. "Some new insights into real convergence in MENA countries’ regional areas: a spatial econometric analysis," Economics and Business Letters, Oviedo University Press, vol. 2(4), pages 150-160.

    More about this item

    Keywords

    Spacial Economics; Caribbean; Convergence;

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • C0 - Mathematical and Quantitative Methods - - General
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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