Eastern Caribbean Currency Union: Selected Issues

Author: International Monetary Fund

Volume/Issue: Volume 2007 Issue 097

Publication date: March 2007

ISBN: 9781451811704

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Investments and Securities-General , Economics- Macroeconomics , Economics / General , ISCR , CR , income , cost of capital , per capita income , ECCU country , informal economy estimate , social security scheme , income catch up , EU banana regime , financing cost of capital , FDI deflator , size of the informal economy , Informal economy , Personal income , Agricultural commodities , Securities , Exports , Caribbean , Global

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Summary

This Selected Issues paper analyzes the income dispersion and comovement in the Eastern Caribbean Currency Union region. It finds that incomes are diverging, with the Leeward Islands converging to a higher income level than the Windward Islands. The paper examines the macroeconomic impact of trade preference erosion on the Windward Islands and demonstrates the substantial impact from preference erosion on growth, trade balances, and fiscal positions. The paper also analyzes the size of the informal economy in the Caribbean.