Economic growth and development in the Caribbean Region / Walker A. Pollard ... [et al.].

Format:

Book

Contributor:

Pollard, Walker A.

Series:

Global economic studies series.

Global economic studies series

Language:

English

Subjects (All):

Caribbean Area--Economic conditions--1945-.

Caribbean Area.

Physical Description:

1 online resource (352 p.)

Edition:

1st ed.

Place of Publication:

New York : Nova Science Publishers, c2009.

Language Note:

English

Summary:

This book identifies ways in which the U.S. trade and aid policy can most help the Caribbean Basin. A number of impediments to future development in the Caribbean, including the small size of the countries and companies in the region, limited infrastructure development and trade policies that feature government reliance on tariff revenue are reviewed. Furthermore, a number of policies are identified and discussed in this book that could help speed development by increasing the scale of markets for Caribbean countries. To address problems faced by small economies and enterprises, this book examines the ways in which the U.S. could increase regionally focused assistance, such as through the creation of educational programs designed to facilitate understanding of export opportunities and trade benefits, as well as through programs to improve understanding and compliance with international regulations regarding port security and food safety. Infrastructure improvements, along with skilled and educated work force, have been identified as the crucial factors for investors in the Caribbean, particularly in higher wage sectors. This book suggests that, to address limitations in port infrastructure, the U.S. could improve coordination on shipping and security issues with Caribbean countries to increase shipping reliability and to reduce time to market. The U.S. could also support training programs to increase the number of skilled workers in the region.

Contents:

Intro

ECONOMIC GROWTH AND DEVELOPMENT IN THE CARIBBEAN REGION

CONTENTS

PREFACE*

LIST OF FREQUENTLY USED ABBREVIATIONS AND ACRONYMS

EXECUTIVE SUMMARY

CURRENT LEVEL OF CARIBBEAN ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE

REVIEW OF THE LITERATURE

Impediments to Future Development

Potential Policies for Economic Development

Governmental Policies that Have Helped Overcome Diseconomies of Scale

Increased Investment in Infrastructure and Skill Building Can Increase Growth and Reduce Poverty

Export Diversification is Best Supported by Improving the Domestic Business Environment

Trade Policy for Development

Trade Liberalization Can Support Development

U.S. Policies Can Stimulate Caribbean Services Exports

CBERA Has Generally Increased Growth Despite Preference Erosion

POLICY RECOMMENDATIONS BY INTERESTED PARTIES

CBERA Has Been Beneficial to the Countries and the Region

Value of Trade Preferences Is Being Reduced

Market Access Provisions Should Be Renewed and Expanded

Future U.S.-Caribbean Relations Should Be Broader and Deeper

Chapter 1 INTRODUCTION

PURPOSE, SCOPE, AND APPROACH OF BOOK

Purpose

Scope, Approach, and Organization of the Book

U.S. TRADE PREFERENCES AVAILABLE TO CBERA COUNTRIES

Caribbean Basin Economic Recovery Act

Caribbean Basin Trade Partnership Act

HOPE Act of 2006

Other Preference Programs Available to CBERA Countries

MAJOR U.S. INSTITUTIONS AFFECTING TRADE AND ECONOMIC GROWTH AND DEVELOPMENT IN CBERA COUNTRIES

Chapter 2 CURRENT LEVEL OF CARIBBEAN ECONOMIC DEVELOPMENT: REGIONAL OVERVIEW

REGIONAL OVERVIEW

POPULATION AND LEVELS OF ECONOMIC DEVELOPMENT

INDICATORS OF ECONOMIC DEVELOPMENT

MACROECONOMIC CONDITIONS AND PERFORMANCE.

IMPORTANCE OF TRADE TO THE CARIBBEAN BASIN COUNTRIES

Export Diversification

EXTENT OF UTILIZATION OF CBERA PREFERENCES

TOURISM AND FINANCIAL SERVICES AS IMPORTANT REGION-WIDE SECTORS

The Contribution of Tourism to CBERA Countries

Tourism as a Share of GDP

Tourism Exports

Financial Services in CBERA Countries

ETHANOL DEHYDRATION INDUSTRY

OVERVIEW OF OTHER MAJOR NON-U.S. POLICIES AND INSTITUTIONS AFFECTING TRADE AND ECONOMIC GROWTH AND DEVELOPMENT IN CBERA COUNTRIES

World Bank

Inter-American Development Bank

Caribbean Development Bank

Caribbean Community

Organization of Eastern Caribbean States

EU Economic Partnership Agreements

Caribbean-Canada Trade Agreement

Selected Other Trade and Development Arrangements

Chapter 3 OVERVIEW OF ECONOMIC LITERATURE ON POTENTIAL CARIBBEAN DEVELOPMENT

INTRODUCTION

THE DETERMINANTS OF ECONOMIC DEVELOPMENT

The Relationship between Trade, Economic Growth, and Poverty Reduction

Trade Preferences and Growth

Effects of the CBERA on the Caribbean

Effects of Other Agreements on the Caribbean

Utilization of Preferential Trade Programs in the Caribbean

Textile and Apparel Preferences under Original CBERA and CBTPA

Nonapparel Preferences under Original CBERA and CBTPA

PROMOTING CARIBBEAN DEVELOPMENT: CHALLENGES AND OPPORTUNITIES

Evolution of Caribbean Policies and Their Effects on Competitiveness and the Macroeconomy

Development Challenges for Small Countries and Small Enterprises

Overview

Policies Identified in the Literature

Assistance for Small Enterprises and Households

Challenges Posed by International Standards

Other Key Challenges for Caribbean Development.

Infrastructure in the Caribbean

Basic Infrastructure

Ports and Shipping Infrastructure

Telecommunications and Information and Communications Technology Infrastructure

ICT as an Export Sector

Health and Education

Health and Wellness Services

Education

Foreign Direct Investment

Trade and Trade Policy for Caribbean Development

Recent Trade Patterns and Trade Liberalization

Trade Policies Identified in the Literature for Caribbean Countries

Trade Policies for the United States Identified in the Literature

Textiles and Apparel

REFERENCES

Chapter 4 CURRENT LEVEL OF CARIBBEAN ECONOMIC DEVELOPMENT: COUNTRY PROFILES

ANTIGUA AND BARBUDA

Economic and Social Development3

Domestic Economy

International Integration6

ARUBA

Economic and Social Development9

International Integration10

THE BAHAMAS

Economic and Social Development12

International Integration14

BARBADOS

Economic and Social Development15

International Integration18

BELIZE

Economic and Social Development19

International Integration21

BRITISH VIRGIN ISLANDS

Economic and Social Development22

International Integration23

DOMINICA

Economic and Social Development24

International Integration26

GRENADA

Economic and Social Development27

Domestic Economy.

International Integration29

GUYANA

Economic and Social Development30

International Integration32

HAITI

Economic and Social Development33

International Integration35

JAMAICA

Economic and Social Development36

International Integration38

MONT SERRAT

Economic and Social Development39

International Integration40

NETHERLANDS ANTILLES

Economic and Social Development41

International Integration43

PANAMA

Economic and Social Development44

International Integration47

ST. KITTS AND NEVIS

Economic and Social Development49

International Integration52

ST. LUCIA

Economic and Social Development53

International Integration55

ST. VINCENT AND THE GRENADINES

Economic and Social Development56

International Integration59

TRINIDAD ANDTOBAGO

Economic and Social Development60

International Integration64

Chapter 5 SUMMARY OF POSITIONS OF INTERESTED PARTIES384

GOVERNMENT OF BARBADOS385

GOVERNMENT OF THE FEDERATION OF ST. KITTS AND NEVIS386

GOVERNMENT OF ST. VINCENT AND THE GRENADINES387

GOVERNMENT OF THE REPUBLIC OF TRINIDAD AND TOBAGO388

GOVERNMENT OF ANTIGUA AND BARBUDA390

GOVERNMENT OF THE REPUBLIC OF HAITI391

GOVERNMENT OF THE COMMONWEALTH OF THE BAHAMAS392

GOVERNMENT OF JAMAICA393

ORGANIZATION OF AMERICAN STATES (OAS)394

CARIBBEAN COMMUNITY SECRETARIAT (CARICOM)396

BERLINER, CORCORAN &amp

ROWE LLP397

CARIBBEAN ASSOCIATION OF INDIGENOUS BANKS, INC. (CAIB)398

CBI SUGAR GROUP399.

CARIBBEAN-CENTRAL AMERICAN ACTION (CCAA)401

CARIBBEAN HOTEL ASSOCIATION (CHA)404

CARIBBEAN REGIONAL NEGOTIATING MACHINERY (CRNM)405

ANDREA M. EWART, PC406

GEONET ETHANOL LLC408

HALCROW, INC.409

INTER-AMERICAN DEVELOPMENT BANK (IDB)410

INTER-AMERICAN INVESTMENT CORPORATION (IIC)411

JEFFERSON WATERMAN INTERNATIONAL412

MERCOSUR CONSULTING GROUP, LTD.414

NATIONAL COALITION ON CARIBBEAN AFFAIRS (NCOCA)415

NATIONAL COUNCIL OF TEXTILE ORGANIZATIONS (NCTO)416

TRADE, AID AND SECURITY COALITION (TASC): BUSINESS COALITION FOR CAPACITY BUILDING, LLC (BCCB)417

APPENDIX A. REQUEST LETTER FROM COMMITTEE ON WAYS AND MEANS

1. The Current Level of Caribbean Economic Development

2. Overview of Economic Literature on Potential Caribbean Development

APPENDIX B. FEDERAL REGISTER NOTICE

CALIFORNIA

COLORADO

CONNECTICUT

FLORIDA

IOWA

MASSACHUSETTS

MONTANA

NEW YORK

NORTH CAROLINA

OREGON

PENNSYLVANIA

RHODE ISLAND

TENNESSEE

TEXAS

WASHINGTON

WISCONSIN

INTERNATIONAL TRADE COMMISSION

FOR FURTHER INFORMATION CONTACT:

APPENDIX C. HEARING CALENDAR

CALENDAR OF PUBLIC HEARING

INTERNATIONAL ORGANIZATION APPEARANCES:

EMBASSY APPEARANCES:

APPENDIX D. COUNTRY PROFILES TABLES AND FIGURES- DATA SOURCES AND NOTES

APPENDIX E. MERCHANDISE TRADE TABLES

APPENDIX F. DEVELOPMENT TABLES

INDEX

Blank Page.

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

Description based on print version record and CIP data provided by publisher.

ISBN:

1-61728-377-0

OCLC:

662453157