Cover IMF Working Papers
Central America, Panama, and the Dominican Republic: Trade Integration and Economic Performance
Author: Mr. Andrew J Swiston and Mr. Luis D Barrot
Series:
IMF Working Papers
Volume/Issue:
Volume 2012: Issue 234
Language:
English
Publication Date:
27 Sep 2012
DOI:
https://doi.org/10.5089/9781475510843.001
ISBN:
9781475510843
ISSN:
1018-5941
Pages:
40
Keywords:
WP; export; country; CAPDR country; CAPDR's export; CAPDR economy; Exports; Integration; Central America; Free trade agreements; Economic growth; Costa Rica; Dominican Republic; El Salvador; Guatemala; Honduras; Nicaragua; Panama; exports-to-GDP ratio; sophistication index; outward orientation; exports of manufacture; export structure variable; structure variable; export ratio; CAPDR trade; services export; Tariffs; Customs unions; Regional integration; Service exports; Global; East Asia
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.
Download PDF (1.6 MB) Download Epub
This paper studies the potential for the export sector to play a more important role in promoting growth in Central America, Panama, and the Dominican Republic (CAPDR) through deeper intra-regional and global trade integration. CAPDR countries have enacted many free trade agreements and other regional integration initiatives in recent years, but this paper finds that their exports remain below the norm for countries of their size. Several indexes of outward orientation are constructed and suggest that the breadth of geographic trading relationships, depth of integration into global production chains, and degree of technological sophistication of exports in CAPDR are less conducive to higher exports and growth than in fast-growing, export-oriented economies. To boost exports and growth, CAPDR should implement policies to facilitate economic integration, particularly building a customs union, harmonizing trade rules, improving logistics and infrastructure, and enhancing regional cordination.
Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund