||Regional Integration and the
Caribbean’s Political Economy
||Graduate Institute of International Affairs and Strategic Studies
||Rovin Clevel Fevrier
Caribbean Political Economy
||The Caribbean region, nestled between North and South America, consist of many small island states all striving to develop their relatively small economies. Popularly known to be one of the major regions as a destination spot for holidays and vacation, the region had gone through its period of colonialism from European powers mainly France, Britain, Netherlands and Spain to do fairly well in maintaining stable economies. But levels of poverty in some areas are visible along with under-development in areas such as healthcare and investment. Many Caribbean countries are highly dependent on foreign direct investment. The common goal to achieve sustainable development has established a number of regional institutions from financial to social and to political. Organizations like CARICOM (Caribbean Community) has paved the way for regionalism. Regional organizations have profound impact on the Caribbean’s Political Economy. This thesis analyzes regional integration in the Caribbean by specifically focusing on two CARICOM member states St. Lucia, and St. Vincent and the Grenadines and how the organization has shaped the Caribbean’s political economy.
||Table of Contents
Chapter I Introduction 1
1.1 Research Questions 3
1.2 Research Motivation 6
1.3 Literature Review 7
1.4 Methodology 10
1.5 Research Limitations 10
Chapter II Role of CARICOM in the Region Over the Years 11
2.1 History 11
2.2 Organizational Structure of CARICOM 17
2.3 Roles 23
Chapter III Analysis of the effects of Regionalism on the Caribbean region 29
3.1 Regionalism in the Caribbean 29
3.2 Economic Integration 37
3.3 Cultural Integration 50
Chapter IV Development in CARICOM Era: St. Lucia, And St. Vincent, and the Grenadines 56
4.1 Introduction 56
4.2 St. Lucia’s Economy 62
4.3 St. Vincent and the Grenadines’ Economy 74
4.4 Financial and Economic Aid from Taiwan 84
Chapter V Conclusion and Outlook 90
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