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Accelerating Trade and Integration in the Caribbean: Policy by World Bank PDF

By World Bank

ISBN-10: 0821380176

ISBN-13: 9780821380178

The most goal of this record is to assist policymakers within the Caribbean layout an schedule of coverage activities to speed up exchange integration and progress, and to minimize poverty. each one a part of the file makes a speciality of a key query and gives an in-depth research of the problems raised, laying the rules for coverage options defined within the final bankruptcy of the document. half I asks even if the Caribbean's monetary and alternate process are sound adequate to maintain the hot period of its international exchange family. half II addresses the possibilities and demanding situations that the recent alternate surroundings deals to the Caribbean. half III assesses the impression of the recently-negotiated monetary Partnership contract on development and poverty relief utilizing kinds of macroeconomic types. The file concludes with coverage priorities for accelerating Caribbean integration into the area economic system and for reaping the advantages of international festival.

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Additional resources for Accelerating Trade and Integration in the Caribbean: Policy Options for Sustained Growth, Job Creation, and Poverty Reduction (World Bank Country Study)

Sample text

First, Caribbean countries have been experiencing macroeconomic and fiscal imbalances, which affect their competitiveness and integration. qxd:WB CTCS_Ch01 4 6/16/09 3:34 PM Page 4 A World Bank Country Study past two decades has led to improvement in social indicators. However, high growth rates have not translated into employment.

In this context, foreign aid could play a critical role as a joint compensation-promotion scheme. 43 percent. 4 percent in 2009 and about 1 percent in the subsequent 3 years. The expansion in labor demand leads to a significant drop in unemployment as well after 2009. Poverty falls throughout the simulation period, by more than one percentage point between 2010 and 2013, and the composite human development indicator improves eventually by about 4 percentage points (see Table 8 below and for more details Chapter 6).

One of the main goals of the EPA is to promote competitiveness and development of Caribbean countries. Both the EU and the CARIFORUM countries acknowledge the importance of increasing the competitiveness of Caribbean economies, developing their capacity to access high quality markets. However, the EPA framework does not define a clear competitiveness strategy for the Caribbean. The challenge is for the Caribbean to use the relevant provisions of the EPA framework to reinforce competitiveness. The 25 years transitory period that the framework provides for full liberalization, gives time to the Caribbean to take policy actions to enhance competitiveness, including: regulatory and legal reforms to improve the “doing business” environment, controlling wages increases to match labor productivity, investing in infrastructure to reduce production costs.

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Accelerating Trade and Integration in the Caribbean: Policy Options for Sustained Growth, Job Creation, and Poverty Reduction (World Bank Country Study) by World Bank


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