As such, we have every reason to believe that the bias that globalization may be introducing into our models evolves gradually, probably in both directions, and has natural limits. Nevertheless, policy-makers need to acknowledge that international developments will have an influence on their economies and on the volatility of their financial markets. 19  Selected Bibliography Ahmed, S., M. Appendino and M. Ruta. 2015.
•  The impact of the new trading regimes on our extremely small, open and vulnerable economies. The WTO, EPA and FTAA can and will have a disproportionate impact on these entities. Already the erosion of trade preferences has led to a significant decline in our banana industry and the demise of the sugar industry in St Kitts and Nevis.