The Fiscal Experience In The Caribbean

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The Fiscal Experience In The Caribbean

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Author : Ramesh Ramsaran
language : en
Publisher: Caribbean Center for Monetary Studies
Release Date : 2004

The Fiscal Experience In The Caribbean written by Ramesh Ramsaran and has been published by Caribbean Center for Monetary Studies this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Caribbean Area categories.

Is Discretionary Fiscal Policy Effective The Caribbean Experience

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Author :
language : en
Publisher:
Release Date : 2011

Is Discretionary Fiscal Policy Effective The Caribbean Experience written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.

Paper presented at the Conference "Options for the Caribbean After the Global Financial Crisis", which was held in Bridgetown, Barbados on 27-28 January 2011 and was organized by the University of the West Indies, the Central Bank of Barbados, and the International Monetary Fund. This paper analyses the economic effects of discretionary fiscal policy (i.e. increases in government expenditures and tax cuts) in the Caribbean - Barbados, Jamaica and Trinidad and Tobago. Using structural vector autoregressive and structural vector error correction models, the estimates show that government spending policies can stimulate the economy of Jamaica and Trinidad and Tobago but not of Barbados. Discretionary tax policies are found desirable in consolidating fiscal balances.

Public Private Partnerships In The Caribbean Region

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Author : Mr.Maximilien Queyranne
language : en
Publisher: International Monetary Fund
Release Date : 2019-05-08

Public Private Partnerships In The Caribbean Region written by Mr.Maximilien Queyranne and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-08 with Business & Economics categories.

To provide policymakers in the Caribbean with a governance framework for improving infrastructure through Public-Private Partnerships (PPPs), while limiting their fiscal costs and risks for the government. And to showcase Canada support to FAD technical assistance in the region and FAD collaboration with CARTAC and the Caribbean Development Bank

Public Finance In Small Open Economies

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Author : Michael Howard
language : en
Publisher: Bloomsbury Publishing USA
Release Date : 1992-11-24

Public Finance In Small Open Economies written by Michael Howard and has been published by Bloomsbury Publishing USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992-11-24 with Business & Economics categories.

This book presents an analysis of Caribbean fiscal problems, with particular emphasis on the relationship between high levels of public expenditure and balance of payments problems. The study examines deficit financing, public expenditure growth, and IMF stabilization policies. Other issues raised relate to income distribution and problems of taxation and tax reform. The work focuses on Jamaica, Guyana, Barbados, and Trinidad and Tobago. The economies of the Organization of Eastern Caribbean States are also considered. This work will interest scholars in economics and economic policy-making, especially those in developing countries.

Fiscal Rules And Economic Size In Latin America And The Caribbean

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Author : Fernando Blanco
language : en
Publisher: World Bank Publications
Release Date : 2020-10-10

Fiscal Rules And Economic Size In Latin America And The Caribbean written by Fernando Blanco and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-10-10 with Business & Economics categories.

Following the collapse of commodity prices in Latin America and the Caribbean (LAC) in 2014-15, many countries in the region were unable to cushion the impact of the shock in order to experience a more gradual adjustment, to a large extent because they had not built adequate fiscal buffers during the commodities’ windfall from 2010-14. Many LAC countries entered 2020 and the COVID-19 crisis in an even more difficult position, with rising debt and limited fiscal space to smooth the negative impacts of the pandemic and adequately support their economies. Fiscal policy in most LAC countries has been procyclical. Public expenditure and debt levels have expanded in good times and contracted in severe downswings due to insufficient fiscal buffers, making crises deeper. Fiscal rules represent a promising policy option for these and other economies. If well-designed and implemented, they can help build buffers during periods of strong economic performance that will be available during rainy days to smooth economic shocks. This book—which was prepared before the COVID-19 crisis—reviews the performance and implementation of different fiscal rules in the region and world. It provides analytical and practical criteria for policy makers for the design, establishment, and feasible implementation of fiscal rules based on each country's business cycle features, external characteristics, type of shocks faced, initial fiscal conditions, technical and institutional capacities, and political context. While establishing new fiscal rules would not help to attenuate the immediate effects of this pandemic crisis, higher debt levels in the aftermath of COVID-19 will demand rebuilding better and stronger institutional frameworks of fiscal policy in LAC and emerging economies globally. Having stronger fiscal mechanisms that include fiscal rules can help countries prepare for the next crisis and should be on the front burner for policy makers in coming years. The findings and lessons discussed apply to economies of different sizes, with some differences under certain scenarios in terms of the technical design and criteria needed for implementation. In this book, policy makers will find that fiscal rules, if tailored to country characteristics, can work and be an essential fiscal tool for larger and particularly smaller economies.

The Challenges Of Fiscal Consolidation And Debt Reduction In The Caribbean

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Author : Charles Amo Yartey
language : en
Publisher: International Monetary Fund
Release Date : 2012-11-19

The Challenges Of Fiscal Consolidation And Debt Reduction In The Caribbean written by Charles Amo Yartey and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11-19 with Business & Economics categories.

This paper examines debt dynamics in the Caribbean and discusses policy options for reducing the high debt levels. Based on empirical studies of factors underlying global large debt reduction episodes, important policy lessons are drawn for the Caribbean. The analysis shows that major debt reductions are associated with strong growth and decisive and lasting fiscal consolidation efforts. Since growth in the current environment is virtually nonexistent, significant fiscal consolidation is inevitable in the region. Better control of the public wage bill, increasing public sector efficiency and tackling transfers are the obvious targets to reduce spending. On the revenue side, there is ample room to reduce tax expenditures, eliminate distortions while broadening the tax base. Fiscal consolidation needs to be complemented by a comprehensive debt reduction strategy including tax policy reforms and structural reforms to boost competiveness.

Caribbean Renewal

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Author : Charles Amo Yartey
language : en
Publisher: International Monetary Fund
Release Date : 2014-05-06

Caribbean Renewal written by Charles Amo Yartey and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-06 with Business & Economics categories.

Caribbean economies face high and rising debt-to-GDP ratios that jeopardize prospects for medium-term debt sustainability and growth. This book provides a comprehensive analysis of the challenges of fiscal consolidation and debt reduction in the Caribbean. It examines the problem of high debt in the region and discusses policy options for improving debt sustainability, including fiscal consolidation, robust growth, and structural reforms. The book also examines empirically the factors underlying global large debt reduction episodes to draw important policy lessons for the Caribbean. It also reviews the literature on successful fiscal consolidation experiences and provides an overview of past and current consolidation efforts in the Caribbean. The book concludes that the region needs a broad and sustained package of reforms to reduce debt ratios to more manageable levels and strengthen economic resilience.

Riding The Storm Fiscal Sustainability In The Caribbean

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Author : Mr.Serhan Cevik
language : en
Publisher: International Monetary Fund
Release Date : 2020-01-31

Riding The Storm Fiscal Sustainability In The Caribbean written by Mr.Serhan Cevik and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-01-31 with Business & Economics categories.

Fiscal sustainability remains a paramount challenge for small economies with high debt and greater vulnerability to climate change. This paper applies the model-based sustainability test for fiscal policy in a panel of 16 Caribbean countries during the period 1980–2018. The results indicate that the coefficient on lagged government debt is positive and statistically significant, implying that fiscal policy in the Caribbean takes corrective actions to counteract an increase in the debt-to-GDP ratio. Nonlinear estimations, however, show that the quadratic debt parameter is negative, which indicates that fiscal policy response is not adequate to ensure sustainability at higher levels of debt. We also find that the fiscal stance tends to be countercyclical on average during the sample period. These empirical results confirm that maintaining prudent fiscal policies and implementing growth-enhancing structural reforms are necessary to build fiscal buffers and ensure debt sustainability with high probability even when negative shocks occur over the long term.

Financial Constraints And Economic Development In The Commonwealth Caribbean

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Author : Ramesh Ramsaran
language : en
Publisher:
Release Date : 1983

Financial Constraints And Economic Development In The Commonwealth Caribbean written by Ramesh Ramsaran and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1983 with Capital categories.

Examines the problems Commonwealth Caribbean countries face in financing development activities. The focus is on the four larger and more developed countries (MDCs) within the Caribbean Community, Barbados, Guyana, Jamaica and Trinidad and Tobago even though the less developed countries face similar problems.

Financial Interconnectedness And Financial Sector Reforms In The Caribbean

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Author : Ms.Sumiko Ogawa
language : en
Publisher: International Monetary Fund
Release Date : 2013-07-31

Financial Interconnectedness And Financial Sector Reforms In The Caribbean written by Ms.Sumiko Ogawa and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-07-31 with Business & Economics categories.

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.