The Caribbean Economy in the Age of Globalization

The book examines the status of the Anglophone Caribbean economy and the options it faces as traditional preferential trade arrangements begin to disappear. Two broad options are explored: one is the transformation of primary exports into higher value-added products and the other is a shift in the economic structure toward tourism and other services. The book constructs a model of a potential Caribbean economy, described as a travel economy. The travel economy is based on two enduring features of Caribbean life—tourism and migration.—and it is meant to provide a benchmark against which to gauge the evolution of the structure of individual economies. The main contribution of this book is a concise and methodological treatment of the issues of transition and  adjustment  that  the Caribbean faces in an increasingly liberalized international trading system.