Abstract One 2013

GLOBAL

DEVELOPMENT STUDIES

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Volume Seven Winter-Spring 2012-2013 Numbers 1-2.

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AN ECONOMIC ANALYSIS OF NATIONAL ECONOMIES UNDER THE CARICOM SINGLE MARKET AND

ECONOMY: TOWARDS A NEW ECONOMIC GEOGRAPHY (NEG) MODEL

Abdullahi Abdulkadri1, Kevon Rhiney2,* and Lloyd Waller3

1. Department of Economics

2. Department of Geography and Geology

3. Department of Government

The University of the West Indies, Mona Campus

Kingston, Jamaica

Published online: February 10, 2017

ABSTRACT

While the movement towards a single market regime in the Caribbean is regionally accepted as a step in the right direction, the wide and increasing disparities among Caribbean Community (CARICOM) nations create some legitimate concerns regarding the effects of deepened economic integration on lesser-developed member states. One of the most substantive attempts by regional bodies to address the negative impacts that may occur from the regional integration process has been through the provision of Country Assistance Programs aimed at providing technical and financial assistance to disadvantaged CARICOM member states. The problem is, however, that the bulk of these initiatives are being administered without concrete assurances that they are directed at the countries that need them the most. This article presents the findings of a recently concluded research aimed at developing a New Economic Geography (NEG) model for the Caribbean, which will facilitate the identification and measurement of disparities and cohesion among select regional states. A major outcome of the study is the formulation of a CARICOM Integration Index (CII) to facilitate an assessment of the readiness of regional states for full inclusion in the CSME. The article outlines the methodology used to devise the index and provides an overview of the main research findings, limitations of the study, and recommendations.

* Corresponding Author: kevon.rhiney@uwimona.edu.jm