University of Miami: Scholarly Repository, Update/Correction/Removal This qualitative study combined the historical, case study and comparative methodologies to interrogate the problem. Foreign aid, a key contributor to development in past decades, is also diminishing. The theoretical guide for the study combines the New Regionalism Theory, which distinguishes between regional integration in the developed and developing worlds and inter-governmentalism, which focuses on the implications of domestic politics on regional integration. CARICOM’s External Engagements: Prospects and Challenges for Caribbean Regional Integration and Development. Chapter IV examines key areas of the services sector, both in terms of enhancing the region's export potential and supporting the establishment of a functioning single market. Chapter I provides a general overview of the Caribbean Community, key features of its economies and the challenges facing the region on the eve of the new millenium. Wint, The Economic Impact of Caribbean Regional Integration, pp. CARICOM: Challenges and Opportunities for Caribbean Economic Integration Summary In 1973, the smaller, largely English-speaking countries of the Eastern Caribbean launched the Caribbean Comm unity and Common Market CARICOM is clearly at a crossroads. iii! Has CARICOM served the development goals of its member states? OVERVIEW OF RULES (1) Regional Integration In addition to the global economic regime based on the GATT and IMF systems, which has sustained the world economy since World 3 Regionalism and Sub-regionalism in the Caribbean: Challenges and Prospects - Any Insights from Europe? Request. In the wake of its historic anniversary, many have reflected on the Community's past achievements and future prospects. 104 … Regional integration is both necessary and problematic. Accessed June 9, 2017. Printed in Argentina INTAL - ITD The Caribbean Community: Facing the Challenges of Regional and Global Integration. 144-145; and IDB, CARICOM Report No. Major challenges facing the Caribbean Region 7. The study also found that in the case of the CARICOM, the emerging regional space is being shaped by the push-pull dynamics of integration. Small economies often lack the resources to make large public investments. [1] According to On 4 July 1998, the Caribbean Community (CARICOM) celebrated its twenty-fifth anniversary. Caribbean, aiming at regional integration will last but experience which has been gained over centuries is beneficial. German Marshall Fund of the United States and OCP Policy Center. Policy Brief. CARIBBEAN COMMUNITY – BENEFITS AND CHALLENGES OF REGIONAL INTEGRATION Presented by: Barry Headley, Senior Economist Musa Ali Esq. Size constraints have always hampered the potential for growth based on domestic markets and intra-CARICOM trade; decreased protectionism makes the size limitations even more evident. Chapter III examines the external challenges facing the region today, particularly as regards its trade relations with Europe, the United States, Canada and Latin America. This study used the case of the Caribbean Community (CARICOM) to illustrate the complexities of regionalization in the contemporary era. 7 No. Inadequate technology 10.Low value of exports Objectives of the Regional Development Fund •CARICOM is divided with a Domestic Non-Cooperation and Regional Integration: 37 transformed into a noose around the neck of the incumbent party. Buenos Aires, 1999. With some exceptions, CARICOM economies have either stagnated or grown very slowly, and high unemployment has become chronic. 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