Welfare effects of economic integration in the Caribbean Community (CARICOM)

Author(s): Nicholls, Shelton (1995)

Created 22 Jul, 1995
Categories Working Papers
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This chapter analyzes the welfare consequences of economic integration for three of the larger territories in CARICOM. The majority of empirical studies which measure the effects of customs union formation employ the areas of triangles and rectangles derived from a marshallian ordinary import demand function. This study also derives alternative Hicksian measures of welfare, utilizing the popular notions of compensating and equivalent variation.

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