00626nam a2200121Ia 4500 20260716043338.0 GAFAR, John Macroeconomic performance and external shocks on small, open economies : the Caribbean experience. 1996 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 3/7/00 M2LMGR A 45314 45314