Bananas the WTO and adjustments initiatives in the Eastern Caribbean Central Bank area
|Author||Oral H Williams - Reginald Darius|
From the abstract:
The paper examines the socio-economic role of bananas in the countries comprising the unified currency area in the Eastern Caribbean. It discusses the viability of the industry in light of the recent WTO ruling that the banana regime contravened the WTO agreement in several aspects. The nature of the system of preferences for bananas is reviewed while the contribution of bananas to merchandise exports and real GDP, and its impact on land use are highlighted. The social dimensions of banana production are illustrated by its contribution to rural stability and informal sector activity. Finally, policy issues related to diversification, industry adjustment, social safety nets and competitiveness are reviewed.