Characteristics of CARIFORUM Economies

Richard L. Bernal

Chapter Chapter 4 in Globalization, Trade, and Economic Development, 2013, pp 91-107 from Palgrave Macmillan

Abstract: Abstract This chapter describes the structural and institutional characteristics of CARIFORUM economies. The dominant feature is their small size relative to the majority of countries in the world. Small developing economies have certain characteristics,1 such as a high degree of openness, limited diversity in economic activity, export concentration on one to three products, significant dependency on trade taxes, and small size of firms. Some developing countries and least developed countries, in general, may exhibit some of the characteristics listed as defining small developing economies. This has led some to argue that many of the problems attributed to small developing economies are not unique to them or can be addressed by appropriate policy measures and therefore smallness does not differentiate economies.2 However, careful analysis reveals that the characteristics, which small developing economies share with other types of developing countries, differ by degree between the different types of developing countries. What sets small developing economies apart and defines them as a distinct genre of developing country is the combination of characteristics and the degree or extent to which these characteristics predominate.

Keywords: Natural Disaster; Small Firm; Large Firm; Vulnerability Index; Export Market (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:pal:palchp:978-1-137-35631-4_4

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137356314

DOI: 10.1057/9781137356314_4

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().