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  • CJLACS, final Pure Caribbean Crisis & Performance, September 2018

    Rights statement: This is an Accepted Manuscript of an article published by Taylor & Francis in Canadian Journal of Latin American and Caribbean Studies 2018, available online: https://www.tandfonline.com/doi/abs/10.1080/08263663.2018.1513718

    Accepted author manuscript, 946 KB, PDF document

    Available under license: CC BY-NC: Creative Commons Attribution-NonCommercial 4.0 International License

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The Impact of the 2008 Global Crisis On Small Economies in the Caribbean

Research output: Contribution to Journal/Magazine › Journal article › peer-review

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The Impact of the 2008 Global Crisis On Small Economies in the Caribbean. / Armstrong, Harvey; Read, Robert Allan.
In: Canadian Journal of Latin American & Caribbean Studies, Vol. 43, No. 3, 2018, p. 394-416.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Armstrong, H & Read, RA 2018, 'The Impact of the 2008 Global Crisis On Small Economies in the Caribbean', Canadian Journal of Latin American & Caribbean Studies, vol. 43, no. 3, pp. 394-416. https://doi.org/10.1080/08263663.2018.1513718

APA

Armstrong, H., & Read, R. A. (2018). The Impact of the 2008 Global Crisis On Small Economies in the Caribbean. Canadian Journal of Latin American & Caribbean Studies, 43(3), 394-416. https://doi.org/10.1080/08263663.2018.1513718

Vancouver

Armstrong H, Read RA. The Impact of the 2008 Global Crisis On Small Economies in the Caribbean. Canadian Journal of Latin American & Caribbean Studies. 2018;43(3):394-416. doi: 10.1080/08263663.2018.1513718

Author

Armstrong, Harvey ; Read, Robert Allan. / The Impact of the 2008 Global Crisis On Small Economies in the Caribbean. In: Canadian Journal of Latin American & Caribbean Studies. 2018 ; Vol. 43, No. 3. pp. 394-416.

Bibtex

@article{8313dc0c58fa47af9133e11e09184b56,
title = "The Impact of the 2008 Global Crisis On Small Economies in the Caribbean",
abstract = "This paper investigates the impact of the global 2008 crisis on the Caribbean region, with particular focus on its many small tourism-dependent economies. Specialization in tourism and, in some cases, offshore financial services has been a successful specialization strategy for many small economies but has made them highly susceptible to exogenous economic shocks. The paper utilizes cluster analysis to identify five distinct pre-crisis patterns of sectoral specialization in Caribbean economies generally. The 2008 crisis is shown to have had very distinct cluster-specific effects, with small economies specializing in tourism and financial services being the worst affected. These findings raise important questions regarding the future sustainability of this sectoral growth template, previously adopted by many successful small economies.",
keywords = "small economies, Caribbean, global crisis, sectoral specialization, cluster analysis, tourism dependence, economic performance, crisis impact",
author = "Harvey Armstrong and Read, {Robert Allan}",
note = "This is an Accepted Manuscript of an article published by Taylor & Francis in Canadian Journal of Latin American and Caribbean Studies 2018, available online: https://www.tandfonline.com/doi/abs/10.1080/08263663.2018.1513718",
year = "2018",
doi = "10.1080/08263663.2018.1513718",
language = "English",
volume = "43",
pages = "394--416",
journal = "Canadian Journal of Latin American & Caribbean Studies",
issn = "0826-3663",
publisher = "Can. Assoc. of Latin American and Caribbean Studies",
number = "3",

}

RIS

TY - JOUR

T1 - The Impact of the 2008 Global Crisis On Small Economies in the Caribbean

AU - Armstrong, Harvey

AU - Read, Robert Allan

N1 - This is an Accepted Manuscript of an article published by Taylor & Francis in Canadian Journal of Latin American and Caribbean Studies 2018, available online: https://www.tandfonline.com/doi/abs/10.1080/08263663.2018.1513718

PY - 2018

Y1 - 2018

N2 - This paper investigates the impact of the global 2008 crisis on the Caribbean region, with particular focus on its many small tourism-dependent economies. Specialization in tourism and, in some cases, offshore financial services has been a successful specialization strategy for many small economies but has made them highly susceptible to exogenous economic shocks. The paper utilizes cluster analysis to identify five distinct pre-crisis patterns of sectoral specialization in Caribbean economies generally. The 2008 crisis is shown to have had very distinct cluster-specific effects, with small economies specializing in tourism and financial services being the worst affected. These findings raise important questions regarding the future sustainability of this sectoral growth template, previously adopted by many successful small economies.

AB - This paper investigates the impact of the global 2008 crisis on the Caribbean region, with particular focus on its many small tourism-dependent economies. Specialization in tourism and, in some cases, offshore financial services has been a successful specialization strategy for many small economies but has made them highly susceptible to exogenous economic shocks. The paper utilizes cluster analysis to identify five distinct pre-crisis patterns of sectoral specialization in Caribbean economies generally. The 2008 crisis is shown to have had very distinct cluster-specific effects, with small economies specializing in tourism and financial services being the worst affected. These findings raise important questions regarding the future sustainability of this sectoral growth template, previously adopted by many successful small economies.

KW - small economies

KW - Caribbean

KW - global crisis

KW - sectoral specialization

KW - cluster analysis

KW - tourism dependence

KW - economic performance

KW - crisis impact

U2 - 10.1080/08263663.2018.1513718

DO - 10.1080/08263663.2018.1513718

M3 - Journal article

VL - 43

SP - 394

EP - 416

JO - Canadian Journal of Latin American & Caribbean Studies

JF - Canadian Journal of Latin American & Caribbean Studies

SN - 0826-3663

IS - 3

ER -