Regional Integration: What is in it for CARICOM?
Mauricio Moreira () and
Economía Journal, 2007, vol. Volume 8 Number 1, issue Fall 2007, 97-142
Economic and political integration have been a perennial and neuralgic issue in the caribbean agenda. This paper draws on the literature on trade, growth and regional agreements to discuss the motivation behind the caribbean drive for integration, the results obtained so far and what is in stock for the future. It argues, with the help of descriptive statistics, an empirical growth model and a gravity model, that the traditional, trade related gains from regional integration have been and are bound to be limited because of (1) the countries´ high openness; (2) the limited size of the "common", enlarged market; and (3) the countries´ relatively similar factor endowments. It also argues, though, that gains in the area of "non-tradables" , due to economies of scale which cannot be mitigated by trade and openness, can be substantial.
Keywords: economic integration; caricom; Caribbean (search for similar items in EconPapers)
JEL-codes: F15 (search for similar items in EconPapers)
References: Add references at CitEc
Citations: View citations in EconPapers (5) Track citations by RSS feed
Downloads: (external link)
Working Paper: Regional Integration: What is in it for CARICOM? (2011)
Working Paper: Regional integration: what in it for CARICOM ? (2007)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:col:000425:008636
Access Statistics for this article
More articles in Economía Journal from The Latin American and Caribbean Economic Association - LACEA
Bibliographic data for series maintained by LACEA ().