But what they do agree on is that it is considerable.3, 4 However, the European markets for digital applications remain heavily fragmented, especially with respect to legal issues such as protection of privacy, contents and copyright. The liability of online intermediaries, electronic payments and electronic contracts are also regulated differently.
But financial underdevelopment is the wrong suspect; the fault lies with small size. Since small size is not “curable”, foreign-exchange-constrained economies must find an alternative policy mix which works around these constraints. Barbados’ economic policy explicitly recognises the foreign exchange constraint. In this we are unique.