Caribbean Facing Economic Uncertainty as a Result of Global Competition

The Caribbean region is facing continuous challenges to development –however, as new research released this month from the Centre for International Governance Innovation (CIGI) shows, there are substantive and relevant policy prescriptions to current economic governance problems.

CIGI’s most recent research on Caribbean economic governance examines three issues facing the region: migration, trade relations and the region’s reliance on tourism.

The Future of the Services Industry in the Caribbean by Daniel P. Erikson and Joyce Lawrence argues that the services sector may serve as an important source of economic growth.

This will be possible only if the region moves beyond tourism to take advantage of emerging opportunities in the areas of banking and financial services, call centers and information and communications technology, off-shore education, health services and transportation.

The Antigua-U.S. WTO Internet Gambling Case by CIGI Associate Director and Distinguished Fellow Andrew F. Cooper challenges standard assumptions about the workings of the international trading system by profiling the “David vs. Goliath” case that Antigua has pursued against the United States in the World Trade Organization.

The case exemplifies what a small country like Antigua can do to respond to dynamic changes imposed by globalization, confirming that Caribbean nations can sometimes punch above their weights in international relations.

Economic issues as well as the role of leadership and public sector reform will be examined in the series of research papers on directions needed to accelerate growth and foster the region’s ability to achieve its economic potential.

The outcome of the project will include policy ideas to help the region carve a more profitable and sustainable niche in the global economy.