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3 Fiscal Policy: Is the Eastern Caribbean Currency Union a Free-Riding Paradise?

3 Fiscal Policy: Is the Eastern Caribbean Currency Union a Free-Riding Paradise? »

Source: The Caribbean : From Vulnerability to Sustained Growth

Series: Books

Author(s): David Robinson , Paul Cashin , and Ratna Sahay

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 September 2006

ISBN: 9781589065147

Keywords: disasters, debt, disaster, public debt, tourism

Currency unions with fixed exchange rates can induce mutually conflicting fiscal incentives. On the one hand, fiscal overspending by one country can trigger a costly abandonment of the peg for the entire uni...

2 Stabilization, Debt, and Fiscal Policy in the Caribbean

2 Stabilization, Debt, and Fiscal Policy in the Caribbean »

Source: The Caribbean : From Vulnerability to Sustained Growth

Series: Books

Author(s): David Robinson , Paul Cashin , and Ratna Sahay

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 September 2006

ISBN: 9781589065147

Keywords: disasters, debt, disaster, public debt, tourism

This chapter examines the macroeconomic performance of the Caribbean countries since the 1990s, with a special emphasis on their public debt accumulation. Most Caribbean countries have a high le...