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Are Caribbean countries diverging or converging? evidence from spatial econometrics

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Listed author(s):
  • 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.

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File URL: https://mpra.ub.uni-muenchen.de/33433/1/MPRA_paper_33433.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 33433.

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Date of creation: 2011
Publication status: Published in Journal of Business, Finance and Economics in Emerging Economies 1.6(2011): pp. 161-206
Handle: RePEc:pra:mprapa:33433
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Keywords: Spacial Economics; Caribbean; Convergence;

Find related papers by 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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  1. Moreno, Ramon & Trehan, Bharat, 1997. "Location and the Growth of Nations," Journal of Economic Growth, Springer, vol. 2(4), pages 399-418, December.
  2. Wolfgang Keller, 2002. "Geographic Localization of International Technology Diffusion," American Economic Review, American Economic Association, vol. 92(1), pages 120-142, March.
  3. 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.
  4. T. W. Swan, 1956. "ECONOMIC GROWTH and CAPITAL ACCUMULATION," The Economic Record, The Economic Society of Australia, vol. 32(2), pages 334-361, November.
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  6. Mauricio Mesquita Moreira & Eduardo Mendoza, 2007. "Regional Integration: What is in it for CARICOM?," ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION, ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION, vol. 0(Fall 2007), pages 97-142, August.
  7. Fiona Atkins & Derick Boyd, 1998. "Convergence and the Caribbean," International Review of Applied Economics, Taylor & Francis Journals, vol. 12(3), pages 381-396.
  8. Stéphane Virol, 2006. "Distance temps, discontinuité des interactions spatiales et concentration globale de l'espace européen," Revue d'économie régionale et urbaine, Armand Colin, vol. 0(1), pages 7-26.
  9. Swan, Trevor W, 2002. "Economic Growth," The Economic Record, The Economic Society of Australia, vol. 78(243), pages 375-380, December.
  10. 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.
  11. 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.
  12. Barro, Robert J & Sala-i-Martin, Xavier, 1992. "Convergence," Journal of Political Economy, University of Chicago Press, vol. 100(2), pages 223-251, April.
  13. Nazrul Islam, 1995. "Growth Empirics: A Panel Data Approach," The Quarterly Journal of Economics, Oxford University Press, vol. 110(4), pages 1127-1170.
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Blog mentions

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 14:46:00

This item is featured on the following reading lists or Wikipedia pages:

  1. Economic Logic blog

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