The Study of CARICOM CSME Trade Liberalization Agreement for Economic Growth

Abstract

The objective of this research is to conduct an empirical analysis of the relationship between Economic Growth and Regional trading in the CARICOM region. In this research Economic growth is measured by annual Gross Domestic Product (GDP) and annual Gross National Income (GNI) which is employed as the dependent variable. The economic index variables also applied in this study are the unemployment rate, import, export, total regional trade value, population, and classification. The study's findings indicated a positive relationship between Total Regional Trade value and GDP in the Caribbean region. The study also indicated a positive relationship between Regional Trade Flow and GNI. Additionally, there was a positive relationship between imports and the unemployment rate. However, exports had no impact on the unemployment rate. Also, a country’s categorization had no impact on total trade value. Throughout the investigation, the implications of the discoveries are thoroughly discussed.