Trade and Integration in the Caribbean

By Philippe Egoume Bossogo, Chandima Mendis

September 1, 2002

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Philippe Egoume Bossogo, and Chandima Mendis. Trade and Integration in the Caribbean, (USA: International Monetary Fund, 2002) accessed November 21, 2024

Disclaimer: 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

Summary

This paper analyzes trade in the Caribbean community (CARICOM) using a gravity model framework. The paper seeks to shed light on the dynamics of trade among CARICOM member countries, as well with the rest of world over 1980–99. Overall, the results show that intra-CARICOM trade has increased, suggesting that further regional integration is desirable. At the same time, CARICOM’s trade with the rest of the world has risen as well, fueled notably by the reduction of the arrangement’s common external tariff and despite the negative impact of the declining preferential access to EU markets for banana. In contrast, WTO membership does not appear to have had a positive impact on trade. Overall, it appears that trade liberalization is consistent with greater CARICOM trade integration.

Subject: Econometric analysis, Economic integration, Gravity models, International trade, Plurilateral trade, Trade integration, Trade liberalization, Trading arrangements

Keywords: Africa, Caribbean, CARICOM country, CARICOM trade, Gravity model, Gravity models, Integration, Liberalization measure, North America, Plurilateral trade, Standard gravity trade equation, Trade, Trade data, Trade integration, Trade liberalization, Trade-creating feature, Trading arrangements, WP

Publication Details

Pages:

38
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2002/148
Stock No:

WPIEA1482002
ISBN:

9781451856835
ISSN:

1018-5941

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