The Challenge of Diversification in the Caribbean
Electronic Access:
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Summary:
It is typically assumed that countries in the Caribbean suffer from a lack of output and export diversification. Contrary to this popular perception, we find no evidence that output variability is higher in Caribbean countries than in larger, more diversified, developing economies. In addition, we find no evidence that export earnings are more volatile in the Caribbean economies than elsewhere. In fact, export earnings are quite stable in the Caribbean, reflecting the fact the region is rather unique in that most of its export earnings are generated from service exports, which tend to be considerably less volatile than goods exports.
Series:
Working Paper No. 2002/196
Subject:
Agricultural commodities Commodities Consumption Education Export earnings Income International trade National accounts
English
Publication Date:
November 1, 2002
ISBN/ISSN:
9781451859973/1018-5941
Stock No:
WPIEA1962002
Pages:
53
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