N14M79 Business Economics
Globalisation and the Economic Impact on Small Island
January 6th 2011
Globalisation and the Economic impact on small island states: Caribbean
This paper conducts an analysis of Small Island States of the Caribbean, the Economic effects of Globalisation and addresses both the macroeconomic and microeconomic issues. The paper will begin by defining globalization from a generic perspective and then focus more specifically on Caribbean. In addition, the paper will briefly describe the present Caribbean Economic Environment highlighting historical reasons for the economic dilemma it finds itself, and will also show the effects of international trade policy on the Caribbean Economic Environment. It will address the issues surrounding the removal of economic barriers and the potential loss of sovereignty of the small island states. Critical analysis will be directed towards a specific Market within a Small Island State in the Caribbean illustrating the potential effects of globalization on this market with the use of demand and supply curves.
There are countless theories, definitions, and interpretations that surround the term Globalization, however, there is one view that is commonly shared, which is the inevitability of some effect and impact this phenomenon will have on every country or nation-state. Globalization is a multi-dimensional process, which is transforming at a rapid rate and in a profound way all aspects of national and global activities and interaction (Peretz 2001). This process of globalization encompasses the eradication of barriers that prevent the free movement of capital, goods, technology and labour across international borders. Society has benefited in many respects from globalization, for example, an increase in market efficiency resulting in greater availability and... [continues]
Cite This Essay
(2011, 01). Globalisation and the Economic Impact on Small Island States: Caribbean. StudyMode.com. Retrieved 01, 2011, from http://www.studymode.com/essays/Globalisation-And-The-Economic-Impact-On-551596.html
"Globalisation and the Economic Impact on Small Island States: Caribbean" StudyMode.com. 01 2011. 01 2011 <http://www.studymode.com/essays/Globalisation-And-The-Economic-Impact-On-551596.html>.
"Globalisation and the Economic Impact on Small Island States: Caribbean." StudyMode.com. 01, 2011. Accessed 01, 2011. http://www.studymode.com/essays/Globalisation-And-The-Economic-Impact-On-551596.html.