Deeper economic integration within the Caribbean has been a regional policy priority since the establishment of the Caribbean Community (CARICOM) and the decision to create the Caribbean Single Market and Economy (CSME). Implementation of integration initiatives has, however, been slow, despite the stated commitment of political leaders. The “implementation deficit” has led to skepticism about completing the CSME and controversy regarding its benefits. This paper analyzes how Caribbean integration has evolved, discusses the obstacles to progress, and explores the potential benefits from greater integration. It argues that further economic integration through liberalization of trade and labor mobility can generate significant macroeconomic benefits, but slow progress in completing the institutional arrangements has hindered implementation of the essential components of the CSME and progress in economic integration. Advancing institutional integration through harmonization and rationa.
Download Free PDF View PDF
Download Free PDF View PDF
Developing Country Studies
This study analyses the Caribbean’s development experience over the period 1980-2013 and discusses policy implications for the Caribbean economy going forward. It contends that transformative shifts in policy, practices and institutions are required to deliver a new development paradigm. Specifically, it finds that the following are key imperatives to securing stronger more inclusive and sustainable development in the future: (i) improving fiscal governance and strengthening supporting institutions; (ii) diversifying strategically; (iii) enhancing productivity and competitiveness; (iv) depoliticising development; (v) strengthening social and environmental security; and (v) shifting mindsets away from limitations towards opportunities and possibilities. Keywords: Economic development, Caribbean.
Download Free PDF View PDF
Download Free PDF View PDF
The Federation of the West Indies was a watershed moment in the history of the British WI, it remains the focal historical point that carries the weight of perceived failure without fully understanding the underlying dynamics of a forced union, not one born out of mutual need.
Download Free PDF View PDF
Download Free PDF View PDF
The current financial crisis has brought with it a number of challenges for global economies. The impact of the crisis on the survival of regional blocs has attracted much attention in international circles. More so, the interdependence and interconnectedness of global and regional economies have increased their vulnerability and exposure to the contagion effects of the present crisis. Caribbean countries are no different in this respect. The challenges coming out of the crisis have exacerbated the already difficult economic conditions within the region. Reduced exports, foreign reserves, government revenues, remittances and employment are some of the challenges facing regional economies. In light of the crisis and its associated challenges, the Caribbean is now at a critical decision point with respect to its drive for deeper regional cooperation. The crisis threatens the core of the region’s integration initiative and also provides opportunities to strengthen regional ties. This p.
Download Free PDF View PDF
Download Free PDF View PDF
Download Free PDF View PDF
The members of the Pacific Islands Forum have recently considered a quite critical review of the Pacific Plan for strengthening regional cooperation and integration. The Caribbean Community (CARICOM), another grouping encompassing a number of small island developing states, has also been contemplating highly critical assessments of the nature of its approach to regionalism, and of the institutions that have been put in place to give effect to this approach. Are there lessons for the Pacific from the Caribbean experience? This article looks at aspects of the approaches to regionalism and economic integration adopted in the Caribbean, and considers parallels with the situation in the Pacific. It suggests that the CARICOM experience puts into question elements of the logic and overall approach to integration being pursued in both regions (and being urged by external partners).
Download Free PDF View PDF
