The Study of CARICOM CSME Trade Liberalization Agreement for Economic Growth



Abstract Views
273

Downloads
346

Citations

Share

##plugins.themes.bootstrap3.article.sidebar##

Submitted Jun 2, 2022
Published Jun 29, 2022
10.24018/ejbmr.2022.7.3.1476

Abstract viewed = 273 times

Table of Contents

##plugins.themes.bootstrap3.article.main##

The objective of this research is to conduct an empirical analysis of the relationship between Economic Growth and Regional trading in the CARICOM region. In this research Economic growth is measured by annual Gross Domestic Product (GDP) and annual Gross National Income (GNI) which is employed as the dependent variable. The economic index variables also applied in this study are the unemployment rate, import, export, total regional trade value, population, and classification. The study's findings indicated a positive relationship between Total Regional Trade value and GDP in the Caribbean region. The study also indicated a positive relationship between Regional Trade Flow and GNI. Additionally, there was a positive relationship between imports and the unemployment rate. However, exports had no impact on the unemployment rate. Also, a country’s categorization had no impact on total trade value. Throughout the investigation, the implications of the discoveries are thoroughly discussed.

Keywords: CARICOM, CSME, Trade, Economic Growth

Downloads

Download data is not yet available.

References

  1. Alleyne, D., McLean, S., Hendrickson, M., Tokuda, H., Pantin, M., Skerrette, N., and Victor, K. (2021). Economic survey of the Caribbean 2020: facing the challenge of COVID-19. Studies and Perspective, 99, 1–71.
     Google Scholar
  2. Coccia, M. (2018). New directions in measurement of economic growth, development and under development. Journal of Economics and Political Economy, 4(4), 382–395.
     Google Scholar
  3. Gnangnon, K. S. (2018). Multilateral trade liberalization and economic growth. Journal of Economic Integration, 33(2), 1261–1301.
     Google Scholar
  4. Gnangnon, K. S. (2017). Multilateral trade liberalization and government revenue. Journal of Economic Integration, 32(3), 586–614.
     Google Scholar
  5. Modeste, N. C. (2016). Trade liberalization and economic growth in guyana: an empirical assessment using DOLS and error correcting methodologies. Review of Black Political Economy, 43(1), 57–67.
     Google Scholar
  6. Shadlen, K. C. (2005). Exchanging development for market access? deep integration and industrial policy under multilateral and regional-bilateral trade agreements. Review of International Political Economy, 12(5), 750–775.
     Google Scholar
  7. Were, M. (2015). Differential effects of trade on economic growth and investment: a cross-country empirical investigation. Journal of African Trade, 2(1-2), 71–85.
     Google Scholar