TY - BOOK AU - GAFAR, John TI - Macroeconomic performance and external shocks on small, open economies : the Caribbean experience PY - 1996/// N2 - Discusses various types of external shocks, and presents some statistical estimates of the costs and benefits associated with external shocks. Argues that an outward-looking trade policy forces factor and commodity prices to reflect their scarcity values, and results in a more efficient allocation of resources ER -