World Bank2014-09-092014-09-092014-06https://hdl.handle.net/10986/20014Caribbean countries face a rapidly changing trade environment, which presents both opportunities and challenges for economies highly dependent on external markets. The features of the new trade environment include: i) redefinition of relations with their main trading partners, including the United States, where Caribbean exports continue to enjoy preferential access under the Caribbean Basin Initiative, and the European Union, through the recently signed Economic Partnership Agreement; ii) the increasing economic influence of the new growth poles1 (Brazil, Russia, India, Indonesia, China and Korea) ; iii) and the redesign of the CARICOM regional trade agreement in order to implement the Caribbean Single Market Economy (CSME) as well as a number of preferential trade agreements within the region. These changes are likely to change the trading structure of the Caribbean countries and, through this restructuring, to have implications for the welfare of these economies. Understanding these implications is critical in terms of designing appropriate policy response to the trade changes but also in terms of eventually re-shaping trade agreements and policies.en-USCC BY 3.0 IGOAGRICULTUREAVERAGE TARIFFAVERAGE TARIFFSAVERAGE TRADEBENCHMARKBENCHMARKINGBUSINESS ENVIRONMENTBUSINESS PERFORMANCESCOMMODITIESCOMMODITYCOMMON MARKETCOMPARATIVE ADVANTAGECOMPETITIVE PRESSURESCOMPETITIVENESS INDEXCONNECTIVITYCONNECTIVITY INDEXCUSTOMSDEEPER TRADE INTEGRATIONDEVELOPING COUNTRIESDOMESTIC MARKETSECONOMIC DEVELOPMENTECONOMIC RESEARCHECONOMIC SIZEECONOMIES OF SCALEEMERGING ECONOMIESEMERGING MARKETSEXPECTED VALUEEXPLOITATIONEXPORT BASKETEXPORT BASKETSEXPORT DYNAMISMEXPORT EARNINGSEXPORT GROWTHEXPORT PERFORMANCEEXPORT SECTORSEXPORT SHAREEXPORT VALUEEXPORTERSEXPORTSEXTERNAL TRADEEXTERNAL TRADE POLICYFINANCIAL CRISISFINANCIAL SECTORFOREIGN FIRMSGDPGENERAL EQUILIBRIUMGLOBAL COMPETITIVENESSGLOBAL ECONOMYGLOBAL TRADEGLOBALIZATIONGRAVITY MODELGRAVITY MODELSGROWTH POTENTIALGROWTH RATEGROWTH RATESHUMAN CAPITALIMPACT OF TRADEIMPORTSINSURANCEINTERNATIONAL TRADEINTRAREGIONAL TRADELABOR PRODUCTIVITYMARKET ECONOMYMARKET SHAREMETALSNATURAL RESOURCENATURAL RESOURCESOILOPENNESSPER CAPITA INCOMEPREFERENTIAL ACCESSPREFERENTIAL AGREEMENTSPREFERENTIAL TRADEPREFERENTIAL TRADE AGREEMENTSPRODUCTION COSTSRAPID GROWTHREGIONAL INTEGRATIONREGIONAL TRADEREGRESSION ANALYSISREGULATORY ENVIRONMENTREGULATORY IMPEDIMENTSSCIENTIFIC RESEARCHSHARE OF WORLD EXPORTSSINGLE MARKETSMALL ECONOMIESSPECIALIZATIONTARIFF RATETARIFF RATESTOURISMTRADE AGREEMENTTRADE BALANCETRADE BALANCESTRADE BARRIERSTRADE BLOCSTRADE DEFICITTRADE DEFICITSTRADE DETERMINANTSTRADE FACILITATIONTRADE LOGISTICSTRADE MORETRADE OPENNESSTRADE PARTNERSHIPTRADE PERFORMANCETRADE RELATIONSTRADE RELATIONSHIPSTRADE SURPLUSTRANSPORT COSTSVALUE ADDEDWORLD DEVELOPMENT INDICATORWORLD DEVELOPMENT INDICATORSWORLD ECONOMYWORLD MARKETWORLD MARKETS10.1596/20014