1 / 10

Limitations

Explore the limitations and economic drivers of regional integration in the Caribbean, analyzing the importance of Caricom to member states and the impact on intra-regional trade growth. The text delves into the need for economic, social, and environmental integration, presenting insights on the development vision and economic drivers necessary for sustainable progress. Key aspects include the single market, single economy, and functional cooperation within the region.

aedie
Download Presentation

Limitations

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. FOUR QUESTIONS FOR REGIONAL INTEGRATIONNorman GirvanIn Honour of Professor Alfred FrancisMona, September 30, 2007

  2. Limitations • Reliance on market mechanisms • Emphasis on economic aspect • Inter-governmental mode • Response to external pressure

  3. Intra-regional exports

  4. Importance of Caricom to member states XG Exports of goods, 2001-2003 XGS exports of goods & services, 2002 (estimated) Source: based on INTAL Caricom Report No. 2, Tables 2,3 & 5

  5. Jessen et al (IDB CARICOM Report No. 2) found that intra-regional trade growth in the 1990s was highest in products enjoying little protection from the CET; and lowest in products enjoying high protection. • Morrira and Mendoza (IDB 2006) on the basis of descriptive statistics, empirical growth model and gravity model; concluded that the traditional, trade-related gains from regional integration have been and are bound to be, limited because of (i) high openness (ii) limited size of regional market and (iii) similar factor endowments. • Gains in the sharing of social and physical infrastructure, due to economies of scale that cannot been mitigated by trade and openness, can be substantial

  6. Economic drivers - Criteria • Sustained growth of exports to international markets, or • Growth in intra-regional exports, or • Significant growth in supplies, at low real cost, of a key input that is important to the achievement of international competitiveness in other activities (e.g. energy)

  7. Economic drivers • Energy • Agriculture • Sustainable Tourism and Agro-tourism • Manufacturing • New export services

  8. DEVELOPMENT VISION • Economic • Social • Governance • Environmental • ECONOMIC INTEGRATION • Single Market • Single Economy • FUNCTIONAL • COOPERATION • Social • Environmental FOREIGN POLICY COORDINATION NATIONAL POLICIES & PROGRAMMES

  9. CSME Implementation DeficitPercent of required actions completed, Aug 05

More Related