Financial Interconnectedness And Financial Sector Reforms In The Caribbean

Author : Ms.Sumiko Ogawa,Mr.Joonkyu Park,Ms.Diva Singh,Ms.Nita Thacker
Publisher : International Monetary Fund
Page : 34 pages
File Size : 49,8 Mb
Release : 2013-07-31
Category : Business & Economics
ISBN : 9781484307830

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Financial Interconnectedness and Financial Sector Reforms in the Caribbean by Ms.Sumiko Ogawa,Mr.Joonkyu Park,Ms.Diva Singh,Ms.Nita Thacker Pdf

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 : Mr.Sanjaya P Panth,Mr.Paul Cashin,Mr.W. A Bauer
Publisher : International Monetary Fund
Page : 143 pages
File Size : 50,7 Mb
Release : 2008-10-09
Category : Business & Economics
ISBN : 9781589067936

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The Caribbean by Mr.Sanjaya P Panth,Mr.Paul Cashin,Mr.W. A Bauer Pdf

The Caribbean has made substantial progress in recent years in implementing economic reforms, both at the national and regional level. The Caribbean: Enhancing Economic Integration examines the product of the efforts made by Caribbean policymakers to strengthen regional cooperation and integration, which has yielded economic transformation and tighter integration with the global economy. This volume discusses regional financial integration as a means of deepening financial systems and raising regional growth; the relationship between tax incentives and investment, where harmonized regional action is important in seeking to overcome collective actions problems; and the consequences for the Caribbean of the erosion of trade preferences in key export markets. The book is based on empirical research carried out as part of the IMF's regional surveillance work in the Caribbean.

Author : Mr.Dewitt Marston
Publisher : International Monetary Fund
Page : 32 pages
File Size : 46,7 Mb
Release : 1995-09-01
Category : Business & Economics
ISBN : 9781451851366

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Financial Sector Reform in Jamaica During 1985-1992, Possible Lessons for the Caribbean by Mr.Dewitt Marston Pdf

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 : Kim B. Staking
Publisher : IDB
Page : 200 pages
File Size : 51,5 Mb
Release : 1997
Category : Business & Economics
ISBN : 1886938237

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Policy-based Finance and Market Alternatives by Kim B. Staking Pdf

Author : Chuan Li,Joyce Wong
Publisher : International Monetary Fund
Page : 24 pages
File Size : 53,5 Mb
Release : 2018-03-13
Category : Business & Economics
ISBN : 9781484347744

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Financial Development and Inclusion in the Caribbean by Chuan Li,Joyce Wong Pdf

Many Caribbean financial systems are relatively well developed for their size but benefits are concentrated in a small part of the population. In several large countries, the financial development levels are below what is warranted by that country’s own macroeconomic fundamentals. SMEs, in particular, remain severely credit constrained, and data to inform better analysis remains scarce. Using available data, this paper takes stock of the current state of financial development and inclusion in the Caribbean region and, based on a quantitative general equilibrium model, examines potential trade-offs between growth, inequality, and financial stability—all critical considerations when policies are designed. A case study for Jamaica is examined in detail.

Author : Dyna Heng,Anna Ivanova,Rodrigo Mariscal,Ms.Uma Ramakrishnan,Joyce Wong
Publisher : International Monetary Fund
Page : 32 pages
File Size : 40,6 Mb
Release : 2016-04-12
Category : Business & Economics
ISBN : 9781484326817

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Advancing Financial Development in Latin America and the Caribbean by Dyna Heng,Anna Ivanova,Rodrigo Mariscal,Ms.Uma Ramakrishnan,Joyce Wong Pdf

This paper examines the state of financial development in the Latin America and Caribbean (LAC) region as well as potential growth and stability implications from further development. The analysis suggests that access to financial institutions has expanded notably in the past decade, and the region compares favorably with other emerging market regions on this dimension. The region, however, continues to lag behind peers on broader financial development, especially with respect to markets, though there is substantial heterogeneity across countries. Financial systems in many LAC countries are also underdeveloped relative to their macroeconomic fundamentals. Further financial development could convey net benefits to the region, provided there is adequate regulatory oversight to prevent excesses.

Author : M. G. Zephirin,Dave Seerattan
Publisher : Unknown
Page : 476 pages
File Size : 40,5 Mb
Release : 1997
Category : Finance
ISBN : UTEXAS:059173011979711

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Financial Innovations in the Caribbean by M. G. Zephirin,Dave Seerattan Pdf

Author : Robert Rennhack
Publisher : INTERNATIONAL MONETARY FUND
Page : 42 pages
File Size : 51,9 Mb
Release : 2009-07-21
Category : Electronic
ISBN : 146237879X

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Global Financial Regulatory Reform: Implications for Latin America and the Caribbean (LAC) by Robert Rennhack Pdf

The Latin America and Caribbean (LAC) region has weathered the global financial crisis reasonably well so far, although tighter global financial conditions began to take their toll on trade, capital flows and economic growth in late 2008. This resilience reflects the reforms put in place by many countries over the past decade to strengthen financial supervision and adopt sound macroeconomic policies. Building on this progress, the region's financial sector reform agenda now aims at further improvements, including steps aiming to improve compliance with the Basel Core Principles of Banking Supervision and to broaden and deepen domestic financial markets.

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 85 pages
File Size : 55,5 Mb
Release : 2019-06-24
Category : Business & Economics
ISBN : 9781498321112

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Canada by International Monetary Fund. Monetary and Capital Markets Department Pdf

This Financial System Stability Assessment paper discusses that Canada has enjoyed favorable macroeconomic outcomes over the past decades, and its vibrant financial system continues to grow robustly. However, macrofinancial vulnerabilities—notably, elevated household debt and housing market imbalances—remain substantial, posing financial stability concerns. Various parts of the financial system are directly exposed to the housing market and/or linked through housing finance. The financial system would be able to manage severe macrofinancial shocks. Major deposit-taking institutions would remain resilient, but mortgage insurers would need additional capital in a severe adverse scenario. Housing finance is broadly resilient, notwithstanding some weaknesses in the small non-prime mortgage lending segment. Although banks’ overall capital buffers are adequate, additional required capital for mortgage exposures, along with measures to increase risk-based differentiation in mortgage pricing, would be desirable. This would help ensure adequate through-the cycle buffers, improve mortgage risk-pricing, and limit procyclical effects induced by housing market corrections.

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 87 pages
File Size : 55,6 Mb
Release : 2018-12-03
Category : Business & Economics
ISBN : 9781484387832

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Jamaica by International Monetary Fund. Monetary and Capital Markets Department Pdf

The macroeconomic environment has improved, reflecting the authorities’ efforts, supported by an IMF arrangement. Previously, years of high fiscal deficits, public enterprise borrowing, and financial sector bailouts led to rapid government debt accumulation, crowded out private credit, increased financial dollarization, and stifled economic growth. Fiscal discipline has been essential to reduce public debt (to about 100 percent of GDP). With government debt accounting for a sizable share of financial institutions’ assets, falling interest rates on government debt are leading to a search for yield. Also, entrenched structural obstacles, including high crime, bureaucratic processes, insufficient labor force skills, and poor access to finance still constrain economic growth. The authorities have made good progress in implementing the 2006 FSAP recommendations. Work on the regulatory framework has significantly advanced in several areas such as securities dealers’ activities, powers to the Bank of Jamaica (BoJ), payment systems, and the introduction of the centralized securities depository. However, the crisis management framework and risk-based supervision work has been lagging.

Author : Mr. Dmitry Gershenson,Frederic Lambert,Luis Herrera,Grey Ramos,Mrs. Marina V Rousset,Jose Torres
Publisher : International Monetary Fund
Page : 77 pages
File Size : 50,8 Mb
Release : 2021-08-20
Category : Business & Economics
ISBN : 9781513592237

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Fintech and Financial Inclusion in Latin America and the Caribbean by Mr. Dmitry Gershenson,Frederic Lambert,Luis Herrera,Grey Ramos,Mrs. Marina V Rousset,Jose Torres Pdf

Despite some improvement since 2011, Latin America and the Caribbean continue to lag behind other regions in terms of financial inclusion. There is no clear evidence that fintech developments have supported greater financial inclusion in LAC, contrary to what has been observed elsewhere in the world. Case studies by national policy experts suggest that barriers to entry in the financial sector, along with a constraining regulatory environment, may have hindered a faster adoption of fintech. However, fintech development seems to have accelerated in the wake of the COVID-19 pandemic and with the support of recent policy initiatives.

Author : Luc Nijs
Publisher : Springer Nature
Page : 759 pages
File Size : 50,7 Mb
Release : 2020-06-30
Category : Business & Economics
ISBN : 9783030348175

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The Handbook of Global Shadow Banking, Volume II by Luc Nijs Pdf

This global handbook provides an up-to-date and comprehensive overview of shadow banking, or market-based finance as it has been recently coined. Engaging in financial intermediary services outside of normal regulatory parameters, the shadow banking sector was arguably a critical factor in causing the 2007-2009 financial crisis. This second volume explores three particular domains of shadow banking. The first domain deals with the macro-economic fundamentals of the respective shadow banking segments: Why do they exist, what problems do they solve and why are some of their embedded risks so persistent? The second domain captures the global dimensions of shadow banking markets, reviewing the particularities and specifics of various shadow banking systems around the world. Volume II concludes with an extensive overview of how the sector has changed since the financial crisis, focusing on regulatory arbitrage, contract imperfection and governance. Closing on unresolved issues and open-ended questions that will no doubt remain prominent in the shadow banking sector for years to come, this handbook is a must-read for professionals and policy-makers within the banking sector, as well as those researching economics and finance.

Author : Mr.Krishna Srinivasan,Ms.Inci Otker,Ms.Uma Ramakrishnan,Mr.Trevor Serge Coleridge Alleyne
Publisher : International Monetary Fund
Page : 378 pages
File Size : 43,7 Mb
Release : 2017-11-13
Category : Business & Economics
ISBN : 9781484315194

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Unleashing Growth and Strengthening Resilience in the Caribbean by Mr.Krishna Srinivasan,Ms.Inci Otker,Ms.Uma Ramakrishnan,Mr.Trevor Serge Coleridge Alleyne Pdf

This book provides a diagnosis of the central economic and financial challenges facing Caribbean policymakers and offers broad policy recommendations for promoting a sustained and inclusive increase in economic well-being. The analysis highlights the need for Caribbean economies to make a concerted effort to break the feedback loops between weak macroeconomic fundamentals, notably pertaining to fiscal positions and financial sector strains, and structural impediments, such as high electricity costs, limited financial deepening, violent crime, and brain drain, which have depressed private investment and growth. A recurring theme in the book is the need for greater regional coordination in finding solutions to address the Caribbean’s shared and intertwined macroeconomic and structural challenges. The analysis suggests that strengthening regional and global market integration of Caribbean economies would provide an impetus to sustained growth in incomes and jobs. Greater regional and global economic integration would also facilitate structural transformation and a shift toward new economic activities, resulting in more diversified and less vulnerable economies. A central challenge for the Caribbean is thus to come together as a region, overcome the limitations posed by size, and garner the benefits of globalization. Efforts should build on existing regional arrangements; accelerating progress in implementing these agreements would stimulate trade. Policymakers could also promote deeper integration with Latin America and the rest of the world by pursuing new trade agreements, leveraging current agreements more effectively, or deepening them to include areas beyond traditional trade issues, and developing port and transport infrastructure.

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 12 pages
File Size : 45,5 Mb
Release : 2017-10-06
Category : Business & Economics
ISBN : 9781484323120

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The Bahamas by International Monetary Fund. Western Hemisphere Dept. Pdf

This Selected Issues paper assesses the recent trends in The Bahamas’ offshore financial center (OFC) and their contribution to the real economy. The Bahamas hosts one of the largest OFCs in the world. International banks are the most important institutions in the Bahamian OFC. Despite a sharp contraction in the size of the offshore sector, the direct impact on the real economy appears to have been modest. The direct contribution of offshore banks to the real economy appears to have remained broadly stable, reflecting an orderly adjustment so far. Strong compliance with anti–money laundering and combating the financing of terrorism and tax transparency standards should help ensure that this orderly adjustment continues.

Author : Lawrence A. Nicholson,Jonathan G. Lashley
Publisher : Springer
Page : 142 pages
File Size : 50,8 Mb
Release : 2016-06-24
Category : Business & Economics
ISBN : 9781349948796

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Understanding the Caribbean Enterprise by Lawrence A. Nicholson,Jonathan G. Lashley Pdf

This engaging book fills a substantial gap in the understanding of Caribbean enterprises, focusing upon FOBs (family-owned businesses) about which, despite accounting for 70% of private sector employment in the region, very little is known. Concentrating on MSMEs which represent the majority of FOBs in the English-speaking Caribbean, the authors compare and contrast their experiences to those in developed countries, focusing in particular on areas such as family business succession, business financing and marketing. Understanding the Caribbean Enterprise provides context-specific lessons from a historical perspective of business and entrepreneurship, which in turn provide an understanding of the current issues facing MSMEs and FOBs in the English-speaking Caribbean.