Financial Sector Reform in Jamaica During 1985-1992 Possible Lessons for the Caribbean PDF Download

Author: David Marston
Publisher:
ISBN:
Category : Finance
Languages : en
Pages : 0

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Author: Mr.Dewitt Marston
Publisher: International Monetary Fund
ISBN: 1451851367
Category : Business & Economics
Languages : en
Pages : 32

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This paper reviews the Jamaican experience with indirect instruments and contrasts this with the currency board type arrangements of the common currency area governed by the Eastern Caribbean Central Bank (ECCB). Reforms in Jamaica improved intermediation and banking efficiency, but a weak fiscal position and interest rate caps undermined the effectiveness of indirect instruments in attaining monetary control. The apparent stability amongst members of the currency union may mask fiscal pressures. In most Caribbean countries, problems of quasi-fiscal pressures on money supply, and disintermediation due to some regulation, are evident. Resolving these issues are necessary to facilitate the reforms being pursued.

Author: Ms.Anne Marie Gulde
Publisher: International Monetary Fund
ISBN: 1451856407
Category : Business & Economics
Languages : en
Pages : 63

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As a monetary, selective credit, and government debt-management instrument, a liquid asset ratio is generally inefficient and may introduce serious distortions. However, it may play a limited role as a prudential instrument, particularly in less sophisticated banking systems or in the context of currency board arrangements. Recent trends in the use of this instrument have been to either abolish it altogether or to design it so as to minimize distortions. When necessary, these changes have been part of a broader effort to make financial intermediation more efficient by relying more on markets and less on regulations.

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 9781557758606
Category : Business & Economics
Languages : en
Pages : 124

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A selective index of major research papers prepared by IMF staff in 1991-98.

Author: Ms.Sumiko Ogawa
Publisher: International Monetary Fund
ISBN: 1484307836
Category : Business & Economics
Languages : en
Pages : 34

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Financial sector linkages have increased continuously in the Caribbean with cross border capital flows and financial conglomerates dominating the financial system. While the greater interconnectedness can heighten systemic risks and likelihood of contagion, it can have positive impacts provided the regional authorities take steps to prevent the systemic risk. In this context, financial sector reform measures aimed at bolstering and harmonizing prudential regulations in line with international best practices, the strengthening and enhancement of financial sector supervision to include cross border linkages through consolidated supervision, increased cooperation across supervisors in the region, and the establishment of deposit insurance and crisis resolution frameworks will be critical to maintain financial sector stability and minimize the repercussions of any negative shocks.

Author: Ms.Mitra Farahbaksh
Publisher: International Monetary Fund
ISBN: 1451848374
Category : Business & Economics
Languages : en
Pages : 32

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Many central banks have abandoned credit ceilings in favor of monetary control frameworks based on indirect instruments. In the long run, ceilings limited competition, hampered the development of a money market, and caused disintermediation. Despite the many distortions associated with the use of credit ceilings, some countries continue to employ them, particularly during the transitional period before full reliance on indirect monetary instruments. The paper argues that the careful attention to design can help reduce distortions typically associated with the use of credit ceilings. It identifies a series of principles that may be followed in designing a system that can minimize those distortions.

Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1451930909
Category : Business & Economics
Languages : en
Pages : 224

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This paper describes early contributions of Staff Papers to international economics. The paper highlights that Staff Papers has, since its inception in 1950, been an important vehicle for the dissemination of research done by the IMF staff. This paper discusses three areas in which articles published in Staff Papers up until the 1970s made major contributions to the literature in international economics. The areas covered are: the absorption approach and the monetary theory of the balance of payments; the Mundell-Fleming model; and foreign trade modeling.

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 9781589062733
Category : Business & Economics
Languages : en
Pages : 130

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Summarizes the for ward-looking analytical work program on macroeconomic issues related to the Poverty Reduction Strategy Paper approach. The program is evolving through a process that began with a technical workshop; participants from low-income countries, donors, academia, and civil society drafted guidance on selected issues and identified priority research topics. Partners, policymakers, and economic scholars are encouraged to share their perspectives and findings through respective team leaders, whose e-mail addresses are provided. The publication also summarizes IMF analytical work, and contains a bibliography of nearly 1,000 papers.

Author: International Monetary Fund. Interdepartmental Working Group on Fund Policy Advice
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 92

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Author: International Monetary Fund. Interdepartmental Working Group on Fund Research
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 144

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