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Caribbean Bananas; The Macroeconomic Impact of Trade Preference Erosion

Paul Cashin (), Montfort Mlachila and Cleary Haines

No 10/59, IMF Working Papers from International Monetary Fund

Abstract: This paper examines the macroeconomic effects of the erosion of trade preferences, with a focus on the export of Caribbean bananas to Europe. Estimates are made of the magnitude of implicit assistance provided over a period of three decades to eastern Caribbean countries through banana trade preferences. The value of such assistance rose until the early 1990s, and has declined precipitously since then. Using vector autoregressive analysis, the paper finds that changes in the level of implicit assistance have had a considerable macroeconomic impact, especially on Caribbean real GDP growth.

Keywords: Export prices; Economic models; Caribbean; Bananas; Agricultural production; Agricultural exports; Agricultural trade; Foreign aid; Trade liberalization; Terms of trade; Trade preferences; Trade policy; preferential trade arrangements, preference erosion, exporters, Country and Industry Studies of Trade, (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-agr and nep-int
Date: 2010-03-01
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Journal Article: Caribbean bananas: The macroeconomic impact of trade preference erosion (2013) Downloads
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