Abstract
This research purposefully examines the existing literature on trading blocks, and reviews the trade balances between CARICOM, UK and the EU with a view of determining likeness of a Post-Brexit era and policy framework for CARICOM. The methodology emtails a review of Brexit developments; discusses the likely consequences of a Brexit on CARICOM countries using quantitative economic analysis of longitudinal trade data incorporating a summary of several views held by scholars, statutory boards and expert opinions; and finally, the research identifies steps towards the development of a policy framework. The main findings highlight that the impact on CARICOM following a post-Brexit will be substantial owing to its large share of EU-bound trade being with the UK. Post-Brexit, the UK is likely to lose its advantage regarding customs duties, however, some of the impact will be cushioned as re-exports will be channeled to the EU bypassing the UK.
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Article Details
- Year: 2020
- Volume: 41
- Issue: 3
- Pages: 67 - 92
- Accepted: 01.07.2020
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DOI:
https://doi.org/10.5281/zenodo.17044420 -
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How to Cite?
Paul Pounder, Alexander Wollenberg (2020). Small Fish, Big Pond: Post-Brexit Challenges and Opportunities for Small Economy Trade Policies. Journal of Economic Cooperation and Development, 41(3), 67-92. https://doi.org/10.5281/zenodo.17044420
