GLOBAL

                                                                                                                                                                                                                                             DEVELOPMENT STUDIES

                                                                            Copyright © 2010 International Development Options

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Volume Six                                                                             Winter-Spring 2010                                                                   Numbers 1-2.

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 THEME: THE GLOBAL FINANCIAL AND ECONOMIC CRISIS: IMPLICATIONS FOR THE CARIBBEAN REGION

 

      IMPLICATIONS OF THE GLOBAL ECONOMIC CRISIS FOR CARIBBEAN REGIONAL INTEGRATION

   

      Patsy Lewis

     Sir Arthur Lewis Institute for Social and Economic Studies

     The University of the West Indies

     Kingston Jamaica

     Published Online: March 15, 2017

 

 

      ABSTRACT

 

The economies of member states of the Caribbean Community (CARICOM) were hard hit by the global financial crisis and recession, reflected, since 2008, in the severe contraction of key economic sectors and reduction in national income. The recession’s effects have generated concern that progress in implementing the Caribbean Single Market and Economy (CSME), which was viewed as a central element in enhancing the region’s competitiveness, would be derailed. This article establishes the effects of the recession on regional economies and presents the current state of play of implementation of the CSME. It suggests that the recession provides the basis for a broad reassessment of the CSME and its ability to address the real challenges confronting the region. 

 

 

IDO        ISSN: 1093-8281                 Copyright © 2017 International Development Options

                                                                                                All Rights Reserved