02619cas a2200277 a 4500 AALejournalIMF016145 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513525860 1018-5941 BD-DhAAL BD-DhAAL Al-Hassan, Abdullah. Is the Whole Greater than the Sum of its Parts? : Strengthening Caribbean Regional Integration / Abdullah Al-Hassan, Mary Burfisher, Julian Chow, Ding Ding. Washington, D.C. : International Monetary Fund, 2020. 1 online resource (79 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Deeper economic integration within the Caribbean has been a regional policy priority since the establishment of the Caribbean Community (CARICOM) and the decision to create the Caribbean Single Market and Economy (CSME). Implementation of integration initiatives has, however, been slow, despite the stated commitment of political leaders. The 'implementation deficit' has led to skepticism about completing the CSME and controversy regarding its benefits. This paper analyzes how Caribbean integration has evolved, discusses the obstacles to progress, and explores the potential benefits from greater integration. It argues that further economic integration through liberalization of trade and labor mobility can generate significant macroeconomic benefits, but slow progress in completing the institutional arrangements has hindered implementation of the essential components of the CSME and progress in economic integration. Advancing institutional integration through harmonization and rationalization of key institutions and processes can reduce the fixed costs of institutions, providing the needed scale and boost to regional integration. Greater cooperation in several functional policy areas where the region is facing common challenges can also provide low-hanging fruit, creating momentum toward full integration as the Community continues to address the obstacles to full economic integration. Mode of access: Internet Burfisher, Mary. Chow, Julian. Ding, Ding. IMF Working Papers; Working Paper ; No. 2020/008 Full text available on IMF http://elibrary.imf.org/view/journals/001/2020/008/001.2020.issue-008-en.xml IMF e-Library