Download or read book Eastern Caribbean Central Bank written by Eastern Caribbean Central Bank and published by . This book was released on 1996 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Eastern Caribbean Central Bank written by Pablo Druck and published by International Monetary Fund. This book was released on 2008-09 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper analyzes the challenges for the Eastern Caribbean Central Bank (ECCB) to be an effective lender of last resort (LOLR) as part of a modern banking crisis resolution framework. The main results from the theoretical model of the ECCB's institutional arrangement are that the majority of currency union members may veto emergency lending in the case of a member-specific shock, as such lending may endanger the stability of the currency board (by lowering the central bank's international reserves, thus raising devaluation risk). However, in the presence of contagion across countries, all currency union members have a vested interest in liquidity supply from the central bank. A key policy recommendation is that currency union members need a stronger fiscal position to continue to access international financial markets and sustain the exchange rate peg.
Download or read book Report and Statement of Accounts for the Financial Year Ended 31 March written by Eastern Caribbean Central Bank and published by . This book was released on 1997 with total page 558 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Eastern Caribbean Economic and Currency Union written by Mr.Alfred Schipke and published by International Monetary Fund. This book was released on 2013-04-10 with total page 546 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Eastern Caribbean Economic and Currency Union (OECS/ECCU) is one of four currency unions in the world. As in other parts of the world in the aftermath of the global economic and financial crisis, the region is at a crossroads, facing the major challenges of creating jobs, making growth more inclusive, reforming the banking system, and managing volatility, while grappling with high public debt and persistent low economic growth. Policymakers have the critical task of implementing strong reforms to strengthen the monetary union while also laying the foundation for accelerating growth. This Handbook provides a comprehensive analysis of the key issues in the OECS/ECCU, including its organization and economic and financial sector linkages, and provides policy recommendations to foster economic growth.
Download or read book Interest Rate Spreads in the Eastern Caribbean written by Mrs.Ruby Randall and published by International Monetary Fund. This book was released on 1998-04-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines interest rate spreads in the Eastern Caribbean and seeks to explain why they are persistently high by comparison with other low-inflation countries. The paper concludes that operating costs appear to be a key determinant of observed interest rate spreads, giving rise to the policy recommendation that efforts to expand the market size of efficient banks might help pave the way for greater efficiency.
Download or read book Eastern Caribbean Currency Union written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2024-04-25 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Eastern Caribbean Currency Union: Selected Issues
Download or read book Eastern Caribbean Currency Union written by International Monetary Fund and published by International Monetary Fund. This book was released on 2012-06-08 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Eastern Caribbean Currency Union (ECCU) has made significant progress in improving the quality and quantity of the macroeconomic statistics it produces and disseminates to the public. The Selected Issues Paper discusses prospects and challenges for credit unions in the ECCU. It reviews the current state of macroeconomic statistics, outlines progress that has been made, and identifies outstanding challenges. It also describes technical assistance to the region and presents the challenges for the production of macroeconomic statistics in small island states.
Download or read book Eastern Caribbean Currency Union Selected Issues written by and published by . This book was released on 2007 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Eastern Caribbean Currency Union written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2019-02-22 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper presents a quantification of the long-term benefits of ex-ante resilient investment and insurance needs against natural disasters (ND) in Eastern Caribbean Currency Union (ECCU). Cost-benefit analysis of resilient investment based on a dynamic stochastic general equilibrium model tailored to small states and calibrated to all ECCU economies is also discussed in the paper. The model’s aggregate production function illustrates the interaction among the participating sectors and their contribution to output, ultimately informing the role of resilient investment. The study also quantifies government insurance coverage needs and costs using an empirical stochastic model that simulates NDs fiscal costs. The insurance needs are framed within the World Bank insurance layering framework. The results in this paper underscore the importance of a shift from ex-post recovery to a focus on ex-ante resilience building. Ex-ante resilient investment and insurance are key to the welfare and financial sustainability of the ECCU, given high intensity and recurrence of NDs.
Download or read book Eastern Caribbean Central Bank Report on Observance of Standards and Codes Data Module Response by the Authorities and Detailed Assessment Using the Data Quality Assessment Framework Dqaf written by International Monetary Fund and published by . This book was released on 2007-08-21 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Development Agenda for the Caribbean written by K. Dwight Venner and published by . This book was released on 2007 with total page 616 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Eastern Caribbean Currency Union written by International Monetary Fund and published by International Monetary Fund. This book was released on 2004-09-22 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: The staff report for the 2004 Regional Surveillance on the Eastern Caribbean Currency Union (ECCU) focuses on the economic developments and near-term prospects. The fiscal position of the governments in the region has deteriorated sharply in recent years and resulted in a marked increase in public sector debt. Efforts in the region have focused on strengthening the supervisory and regulatory regimes in both the domestic banking sector and the offshore financial sector. Enhanced regional cooperation could also help broaden markets and provide opportunities to achieve economies of scale.
Download or read book Monetary Policy Transmission in the Eastern Caribbean Currency Union written by Ms.Alla Myrvoda and published by International Monetary Fund. This book was released on 2018-03-29 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper empirically investigates international and domestic monetary policy transmission mechanisms in the Eastern Caribbean Currency Union (ECCU). We assess interest rate pass-through of both the U.S. policy rate and the ECCU minimum saving deposit rate (MSR) into domestic interest rates through the interest rate channel. While economic theory suggests that the international pass-through should be high in small open economies with fixed exchange rates and open capital accounts, our findings, based on regression analysis, point to a low long-run pass-through coefficient of the U.S. interest rate. The domestic transmission channel, however, is found to operate through changes in the MSR. The results hold for different interest rates (deposit and lending) and are supported by survey-based findings.
Download or read book Grenada written by International Monetary Fund and published by International Monetary Fund. This book was released on 1997-12-15 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reports economic developments in Grenada during the 1990s. Following a strong expansion over 1987–91, real GDP grew at a slower pace in 1992 and declined in 1993, largely reflecting the adoption of adjustment measures and a severe drought. Growth resumed in 1994 owing to stronger tourism and manufacturing activity, the installation of new electricity-generating capacity, and increased output by the water company. In 1995, real GDP continued to expand at an annual rate of about 3 percent, mainly because of a recovery in agricultural output induced by higher export prices.
Download or read book Optimal Reserves in the Eastern Caribbean Currency Union written by Wendell A. Samuel and published by International Monetary Fund. This book was released on 2009-04 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: We identify structural breaks in economic growth in 140 countries and use these to define "growth spells: " periods of high growth preceded by an upbreak and ending either with a downbreak or with the end of the sample. Growth spells tend to be shorter in African and Latin American countries than elsewhere. We find that growth duration is positively related to: the degree of equality of the income distribution; democratic institutions; export orientation (with higher propensities to export manufactures, greater openness to FDI, and avoidance of exchange rate overvaluation favorable for duration); and macroeconomic stability (with even moderate instability curtailing growth duration)
Download or read book Currency Board Arrangements written by Mr.Charles Enoch and published by International Monetary Fund. This book was released on 1997-09-05 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a comprehensive analysis of the attractions and disadvantages of currency board arrangements in their various institutional configurations. It asks what defines a currency board arrangement, what are their strengths and weaknesses, and what constraints they place on macroeconomic policies. It also reviews country experiences with these arrangements.
Download or read book Assessing Banking and Currency Crisis Risk in Small States written by Carlo Pizzinelli and published by International Monetary Fund. This book was released on 2021-11-19 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: To complement the early warning signals literature, we study the determinants of banking and currency crises for small states and currency boards. Building on the crisis dataset by Laeven and Valencia (2020), we estimate a binominal logit model to identify the determinants of crises, and as a case study, we apply our models to the Eastern Caribbean Currency Union (ECCU). Our findings largely confirm past studies’ results that both external and domestic fundamentals matter in predicting crisis likelihood, but we find that small states and fixed exchange rate regimes are more sensitive to these fundamentals, compared to larger economies. Our empirical results also suggest that for currency board economies, keeping a high level of the foreign reserve cover—the “backing ratio” defined as official foreign reserves as a share of central bank demand liabilities—is critical to reduce the likelihood of both banking and currency crises. The backing ratio is particularly important during years of global economic downturn.
