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The main objective of this report is to help policymakers in the Caribbean design an agenda of policy actions to accelerate trade integration and growth and reduce poverty. The report is a joint response from the World Bank and the Organization of American States (OAS) to a demand statement from the member states of CARICOM, formulated by the Caribbean Regional Negotiating Machinery and the CARICOM Secretariat, to strengthen the analytical underpinnings of the linkages between trade, economic growth, and poverty. It aims at centering the Caribbean's next round of trade reforms and its overall agenda around trade on these key thematic areas. The report provides an overview of the economic and trade system context of the Caribbean, under which the new trade environment is operating. It then discusses the opportunities and challenges for the Caribbean associated with the new trade environment. It finally quantifies the gains from global trade integration using a dynamic macroeconomic analysis. The report provides policy priorities to accelerating Caribbean integration into the world economy and to reap the benefits of global competition. Each part of the report focuses on a key question and adds value by providing an in-depth analysis of the issues raised and laying the foundations for policy recommendations described in the last chapter of the report: * Part I (Overview of economic and trade system context): is Caribbean's economic and trade system sound enough to sustain the new era of its global trade relations which is being shaped? * Part II (Focuses on the analysis of the new opportunities and challenges of the new trade environment): what are the opportunities and challenges that the new trade environment offers to the Caribbean? * Part III (Presents an assessment of the impact of the EPA on growth and poverty using two types of macroeconomic models): what are the gains in terms of growth and poverty reduction of the recently negotiated EPA?
This book is concerned with the impact of economic globalization and an unregulated global market system on the Caribbean economies. The book is in three parts. Part I examines theoretical issues and includes an assessment of recent globalization trends, the limits of globalization, and the question of uneven development. Part II considers alternative policy solutions including interventionist alternatives, effective monetary strategies and innovative tourism strategies. Part III focuses on Jamaica and the Bahamas. Overall, this book provides a rich menu for alternative economic policies in the Caribbean at the turn of the century.
Regional integration has emerged as perhaps the most controversial issue within the Caribbean. While some progress in implementing economic reforms, both at the national and regional level are observable, the efforts made by Caribbean policymakers to strengthen regional cooperation and integration have not yielded the envisioned level of economic transformation. Caribbean Trade and Integration distinguishes itself by combining history with sound economic and policy analysis. Moreover, this book reviews a survey of several key historical studies that have identified the urgent need for a change in policy action among Caribbean Community member states over time and that have outlined many pointed policy suggestions to effect the same. The book culminates by addressing the need to unpause the Caribbean Single Market and Economy and proposes a number of initiatives to generate this outcome. While this book is written to appeal to an academic audience, it also provides essential reading for policy practitioners, stakeholder groups, the CARICOM Secretariat and those interested in the dynamics of Caribbean regional integration.
Agricultural trade is a major factor determining food security in Caribbean countries. In these small open economies, exports are essential, whilst imports provide a large part of the food supply. This book examines various dimensions of trade policy and related issues and suggests policies to address trade and food security and rural development linkages. It is as a guide and reference documents for agricultural trade policy analysts, trade negotiators, policy-makers and planners in both the public and private sectors.
Analyzing the experience of Mexico under the North American Free Trade Agreement (NAFTA), 'Lessons from NAFTA' aims to provide guidance to Latin American and Caribbean countries considering free trade agreements with the United States. The authors conclude that the treaty raised external trade and foreign investment inflows and had a modest effect on Mexico's average income per person. It is likely that the treaty also helped achieve a modest reduction in poverty and an improvement in job quality. This book will be of interest to scholars and policymakers interested in international trade and development.
Globalization and Development draws upon the experiences of the Latin American and Caribbean region to provide a multidimensional assessment of the globalization process from the perspective of developing countries. Based on a study by the United Nations Economic Commission for Latin America and the Caribbean (ECLAC), this book gives a historical overview of economic development in the region and presents both an economic and noneconomic agenda that addresses disparity, respects diversity, and fosters complementarity among regional, national, and international institutions. For orders originating outside of North America, please visit the World Bank website for a list of distributors and geographic discounts at http://publications.worldbank.org/howtoorder or e-mail [email protected].
Economic ties between Asia and Latin America are growing as a part of a global shift toward more South–South cooperation. Yet trade costs remain high, which may impede future interregional trade and integration. Furthermore, an emerging trans-Pacific trade architecture based on free trade agreements (FTAs) carries risks of a noodle bowl effect. This book examines new frontiers in Asia–Latin America integration through interregional comparative studies in three key areas: trade facilitation, logistics, and infrastructure; production networks, supply chains, and small and medium-sized enterprises; and FTAs. The chapters contributed by Asian, Latin American, and international experts provide new insights on regional integration, impediments, and policy issues.
Individual countries of the Maghreb have achieved substantial progress on trade, but, as a region they remain the least integrated in the world. The share of intraregional trade is less than 5 percent of their total trade, substantially lower than in all other regional trading blocs around the world. Geopolitical considerations and restrictive economic policies have stifled regional integration. Economic policies have been guided by country-level considerations, with little attention to the region, and are not coordinated. Restrictions on trade and capital flows remain substantial and constrain regional integration for the private sector.
This publication sets out and analyses the main foreign direct investment (FDI) trends in the countries of Latin America and the Caribbean. In 2017, certain trends that had already emerged in the global economic landscape became more established. In particular, announcements of potential restrictions on trade and pressures to relocate production to developed countries were confirmed. At the same time, China has taken steps to restrict outflows of foreign direct investment (FDI) in order to align these flows with its strategic plan. Adding to these factors is the expansion of digital technologies, whose international expansion requires smaller investments in tangible assets. Firms in these areas are heavily concentrated in the United States and China, which reduces the need for cross-border mergers and acquisitions.