Before and after the global financial crisis: evaluating the Caribbean's synchronization with global engines of growth
Auguste Tano Kouame and
M. Ivanova Reyes
No 7544, Policy Research Working Paper Series from The World Bank
In spite of the United States'recovery, most Caribbean nations are still struggling in the aftermath of the 2007?08 global financial crisis. This paper examines this slow growth recovery through the analysis of how the Caribbean's growth relates to that of key drivers of the global economy. The paper explores whether the region's links with some important global partners could be behind the sluggish post-crisis recovery. The paper analyzes the economic growth of Caribbean countries as a function of the growth in key global partners and of country-specific characteristics. The findings attribute an important role to the European Union and the United States in the outcomes for the region, especially in services-oriented economies. The findings show that when these nations grow, or when they are in an expansionary cycle, the Caribbean's growth responds positively but less than proportionally. Consequently, the slow recovery in the Caribbean region is attributed to the persistent sluggishness in the European Union and the fact that the U.S. recovery is still nascent and not quite robust.
Keywords: Consumption; Fiscal&Monetary Policy; Economic Theory&Research; Economic Growth; Economic Conditions and Volatility; Inequality; Industrial Economics; International Trade and Trade Rules (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed
Downloads: (external link)
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:wbk:wbrwps:7544
Access Statistics for this paper
More papers in Policy Research Working Paper Series from The World Bank 1818 H Street, N.W., Washington, DC 20433. Contact information at EDIRC.
Bibliographic data for series maintained by Roula I. Yazigi ().