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Caribbean Bananas: The Macroeconomic Impact of Trade Preference Erosion
Author:
Mr. Paul Cashin
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,
Mr. Montfort Mlachila
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, and
Cleary Haines
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Series:
IMF Working Papers
Volume/Issue:
Volume 2010: Issue 059
Language:
English
Publication Date:
01 Mar 2010
DOI:
https://doi.org/10.5089/9781451963793.001
ISBN:
9781451963793
ISSN:
1018-5941
Pages:
42
Keywords:
WP; trade preference; EU banana regime; real GDP; country authorities; EU export unit value
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper examines the macroeconomic effects of the erosion of trade preferences, with a focus on the export of Caribbean bananas to Europe. Estimates are made of the magnitude of implicit assistance provided over a period of three decades to eastern Caribbean countries through banana trade preferences. The value of such assistance rose until the early 1990s, and has declined precipitously since then. Using vector autoregressive analysis, the paper finds that changes in the level of implicit assistance have had a considerable macroeconomic impact, especially on Caribbean real GDP growth.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund