The Importance of the OECS Subintegration Cluster in the Context of Development of Its Members' GDP

Význam subintegračního seskupení OECS v kontextu vývoje HDP jeho členů

Pavel Zdražil

Acta Oeconomica Pragensia, 2014, vol. 2014, issue 3, 17-28

Abstract: The regional integration process allows worldwide formation of many regional clusters with an economic focus at most. Some partnerships of such units can create clubs of regions with a higher degree of integration process, compared to the rest, so their extent of regional integration is very high-powered. The present analysis shows that since the formation of such a unit - OECS subintegration cluster, the GDP of the involved countries has definitely developed better than that of the higher integration unit - the CARICOM integration cluster, and the rest of the area as well. Beyond, some higher intensity of recognised effect in the long-term period has been found. Accordingly to the discovered findings, we can suggest that the emergence of similar phenomena of "integration within integration" brings clear evidence of positive development to its participants in terms of economic performance. Similar initiatives of the European Union's Cohesion Policy - grouping of territorial cooperation support - appear to be partially correct in this view. However, the main policy's objectives require other approaches.

Keywords: subintegration cluster; CARICOM; OECS; GDP growth; convergence (search for similar items in EconPapers)
JEL-codes: F15 O54 R11 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://aop.vse.cz/doi/10.18267/j.aop.441.html (text/html)
http://aop.vse.cz/doi/10.18267/j.aop.441.pdf (application/pdf)
free of charge

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:prg:jnlaop:v:2014:y:2014:i:3:id:441:p:17-28

Ordering information: This journal article can be ordered from
Redakce Acta Oeconomica Pragensia, Vysoká škola ekonomická v Praze, nám. W. Churchilla 4, 130 67 Praha 3
http://aop.vse.cz

DOI: 10.18267/j.aop.441

Access Statistics for this article

Acta Oeconomica Pragensia is currently edited by Klára Šimůnková

More articles in Acta Oeconomica Pragensia from Prague University of Economics and Business Contact information at EDIRC.
Bibliographic data for series maintained by Stanislav Vojir ().