Regional Integration: What is in it for CARICOM?

Moreira, Maurício Mesquita; Mendoza, Eduardo

doi:10.2139/ssrn.928957

Cited by 3 publications

(4 citation statements)

References 16 publications

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“…This is certainly a source of concern for policymakers. However, as Elliott (2007) and Moreira and Mendoza (2007) have argued, the gains from economic union between the Caribbean economies may lie outside the traditional economic gains from trades and therefore the motivation for increased union may be more political than economic.…”

Section: Discussionmentioning

confidence: 99%

“…While most Caribbean economies are highly open, most of their trade takes place with external partners rather than with each other, as indicated by the work of Anthony and Hughes‐Hallett (2000). More recent work by Elliott (2007) and Moreira and Mendoza (2007) has examined the potential for trade integration between Caribbean economies using the well‐known ‘Gravity’ model. In both papers the conclusion drawn is that gains from trade between these economies are likely to be limited.…”

Section: Introductionmentioning

confidence: 99%

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Demand and Supply Shocks in the Caribbean Economies: Implications for Monetary Union

Pentecost

Turner

2010

The World Economy

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This paper uses the method of structural vector autoregressions to decompose movements of real output and prices into demand and supply innovations for four Caribbean economies: Barbados, Jamaica, Trinidad and Tobago, and Guyana. The aim of the analysis is to assess if these economies could feasibly form part of a Caribbean monetary union. Correlations between the demand and supply innovations are, however, typically low, indicating that monetary union may lead to greater stabilisation problems for these economies. Copyright 2010 Blackwell Publishing Ltd.

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Section: Discussionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Demand and Supply Shocks in the Caribbean Economies: Implications for Monetary Union

Pentecost

Turner

2010

The World Economy

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“…Intraregional trade, excluding oil products that were and are not subject to restrictions, does not appear to have been significantly boosted by these initiatives (Mendoza and Moreira 2007). Intraregional trade remains small-a peak in 1975 was surpassed in 1997 and has glacially increased since then such that today the share of intraregional non-oil trade remains approximately the same as the modest levels of the 1970s (5.6 percent).…”

Section: The Neighbourhoodmentioning

confidence: 99%

Is There a Caribbean Sclerosis? Stagnating Economic Growth in the Caribbean

Ruprah,

Melgarejo,

Sierra

2014

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This report addresses several critical questions regarding Caribbean nations. Does size matter for economic growth and volatility? To what degree has Caribbean economic growth been inferior to that of ROSE? What could account for the Caribbean growth gap and what economic policies might decision-makers adopt to promote higher and sustainable growth? The answers to these questions will support the overarching hypothesis that the Caribbean suffers sclerosis. The almost-exclusive focus on economic growth in this report does not imply that it should be the sole criterion to judge economic performance. Nevertheless, economic growth is the central concern of Caribbean policymakers, who recognize that it is critical to improve broad economic development, and hence to improve the welfare of Caribbean citizens. The central focus here is on six countries in the region, which will be referred to as the C6: The Bahamas, Barbados, Guyana, Jamaica, Suriname, and Trinidad and Tobago. However, the analysis will sometimes include, most often in the aggregate, the countries of the Organisation of Eastern Caribbean States (OECS). The six members of the OECS used in this report are Antigua and Barbuda, the Commonwealth of Dominica, Grenada, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines.

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“…Early research on monetary union in the region (and its lack of progress) is limited and lacks any rigorous framework (Anthony and Hughes‐Hallett, ; Nichols et al., ). Later research employs a gravity model to examine the potential for trade integration between Caribbean economies (Elliott, ; Moreira and Mendoza, ). Both papers conclude that gains from trade between these economies are likely to be limited.…”

Section: Background and Literature Reviewmentioning

confidence: 99%

Convergence of Inflationary Shocks: Evidence from the Caribbean

Cuestas

Ramlogan-Dobson

2013

World Economy

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In this paper, we aim to shed some light on the inflation dynamics in the Caribbean. We analyse the inflation rates for twelve countries using various time series methods. The results show that the inflation rates are mean reverting processes and that there is evidence of a convergence club in inflation rates within the area, which contradicts previous studies. Our contribution implies a high degree of similarity in the dynamics of our target countries' inflation rates.

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Regional Integration: What is in it for CARICOM?

Cited by 3 publications

References 16 publications

Demand and Supply Shocks in the Caribbean Economies: Implications for Monetary Union

Demand and Supply Shocks in the Caribbean Economies: Implications for Monetary Union

Is There a Caribbean Sclerosis? Stagnating Economic Growth in the Caribbean

Convergence of Inflationary Shocks: Evidence from the Caribbean

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