Trade and Integration in the Caribbean

Bossogo, Philippe Egoume; Mendis, Chandima

doi:10.5089/9781451856835.001

Cited by 8 publications

(3 citation statements)

References 4 publications

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“…The analytical literature on the trade integration in CARICOM is limited. I am aware of only Egoume-Bossogo and Mendis (2002) who apply gravity equation to test the trade implications of CARICOM using aggregate bilateral trade data that covers 1980-99. They find that CARICOM promoted intra-CARICOM trade, but there is little evidence of trade diversion.…”

Section: Related Literaturementioning

confidence: 99%

External Tariff Liberalization in CARICOM: A Commodity-Level Analysis

Sadikov

2008

SSRN Journal

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Section: Related Literaturementioning

confidence: 99%

External Tariff Liberalization in CARICOM: A Commodity-Level Analysis

Sadikov

2008

SSRN Journal

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“…4 Finally, comparing the estimates across two specifications (individual years and averaged data) made it possible to draw some conclusions about the impact of the duration of fixed exchange rate arrangements on trade. In the estimation using individual years, we only identify the existence of the peg in single years (Rose, 2000 or Egoume-Bossogo andMendis, 2002), while the estimation using average data only assigns a dummy variable a value of one when the peg was in existence during the entire 5-year period.…”

Section: B Specification Of the Modelmentioning

confidence: 99%

“…We therefore kept zero observations and treated the non-recorded observations in the COMTRADE database as randomly distributed missing data 7 . To allow for a log-linear estimation we used the approach of Eichengreen and Irvin (1995) and Egoume-Bossogo and Mendis (2002) and modified the data by adding 1 to all trade values (for large values of the dependent variable ln(1+T ij ) ≈ lnT ij and for small ones ln(1+T ij ) ≈ T ij ). This enabled us to keep zero trade values with only a minimal distortion of the results.…”

Section: Data Sources and Definition Of Variablesmentioning

confidence: 99%

Will You Buy My Peg? the Credibility of a Fixed Exchange Rate Regime As a Determinant of Bilateral Trade

Jurzyk

Fritz-Krockow²

2004

IMF Working Papers

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This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. This paper examines the relationship between fixed exchange rate arrangements and trade using a gravity model of international trade together with bilateral trade data from 24 countries from the Caribbean and Latin America for the period 1960-2001. The analysis indicates that a credible fixed peg has a positive impact on the value of bilateral trade. Moreover, the positive impact on trade is more pronounced with a stricter definition of the fixed peg or a longer duration of the peg. This supports the argument that the credibility of an exchange rate peg is an important element to determine bilateral trade. There is, however, no evidence to suggest that a currency union provides additional benefits.

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History, regionalism, and CARICOM trade: A gravity model analysis

Sandberg

Seale

Taylor

2006

The Journal of Development Studies

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A gravity model is fitted to 17 annual cross sections, 1980-1996, of bilateral trade data (imports and exports) between CARICOM member states and selected trading partners. Specifically, the paper investigates the effects of regional integration, colonial legacies and linguistic ties on CARICOM bilateral trade flows between member states and between member states and North American and European Union countries. The empirical results indicate that history and regionalism have had significant and strong effects on CARICOM trade. Additionally, two traditional explanatory variables in gravity models, income per capita and population, have significant and positive effects on CARICOM trade while the distance between trading partners exerts the expected negative effect.

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Trade and Integration in the Caribbean

Cited by 8 publications

References 4 publications

External Tariff Liberalization in CARICOM: A Commodity-Level Analysis

External Tariff Liberalization in CARICOM: A Commodity-Level Analysis

Will You Buy My Peg? the Credibility of a Fixed Exchange Rate Regime As a Determinant of Bilateral Trade

History, regionalism, and CARICOM trade: A gravity model analysis

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