Estimating the Trade and Revenue Impacts of the European Unionâ€“CARIFORUM Economic Partnership Agreement: A Case Study of Barbados
Troy Lorde () and
Antonio Alleyne ()
Global Business Review, 2018, vol. 19, issue 5, 1129-1151
This article estimates the trade and revenue impacts of implementation of the European Union Economic Partnership Agreement (EPA) in Barbados. The simulations show that the trade and revenue impacts of the EPA in Barbados depend critically on whether the rates applied are the statutory or not. When the rates charged differ from statutory rates, overall imports are expected to rise, revenues fall and trade diverted to the European Union (EU), primarily from the USA. Conversely, application of statutory rates would result in lower imports, greater revenues and trade diverted primarily to Barbadosâ€™ other trade partners, particularly the USA. Despite the differences between both scenarios, the overall trade and revenue impacts on Barbados are likely to be small. This is likely due to the list of excluded products, which are among the most protected, and which make up a substantial fraction of all goods imported from the EU.
Keywords: Barbados; EU; EPA; trade impacts; revenue impacts; TRIST (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:sae:globus:v:19:y:2018:i:5:p:1129-1151
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