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Author: Anthony Wood
Publisher:
ISBN:
Category : Barbados
Languages : en
Pages : 38
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Book Description
The financial development-economic growth causal relationship is examined using the Hsiao (1979) causal testing method. We find that, for the Barbadian evidence over the longer period, a bidirectional causal relationship exists between financial development and economic growth. However, the results provide no support for Patrick's hypothesis that the supply-leading effect dominates during the early stage of development and as the modern sectors of the economy develop, the demand-following financial response becomes dominant and the supply-leading effect diminishes.
Author: Anthony Wood
Publisher:
ISBN:
Category : Barbados
Languages : en
Pages : 38
Get Book Here
Book Description
The financial development-economic growth causal relationship is examined using the Hsiao (1979) causal testing method. We find that, for the Barbadian evidence over the longer period, a bidirectional causal relationship exists between financial development and economic growth. However, the results provide no support for Patrick's hypothesis that the supply-leading effect dominates during the early stage of development and as the modern sectors of the economy develop, the demand-following financial response becomes dominant and the supply-leading effect diminishes.
Author: Chuan Li
Publisher: International Monetary Fund
ISBN: 1484347749
Category : Business & Economics
Languages : en
Pages : 24
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Book Description
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: Marion V. Williams
Publisher: Praeger
ISBN: 0275970310
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
The sound management of public finances is, in Williams' view, the most important factor in attaining the twin objectives of economic growth and improvement in the standard of living in small open developing economies. While looking at the challenges of public finance management in small states, with a focus on Barbados, this book suggests strategies of fiscal and microeconomic management for small economies that will permit them to ensure macroeconomic stability while promoting economic growth and development. In discussing the philosophy of public finance, it examines small size and openness, using both traditional criteria and modern perspectives of liberalized systems. It deals with the challenge of avoiding overly expansionary budgets and the need for counter cyclical policies in relation to macroeconomic objectives. This book also discusses state involvement in commercial types of enterprise and the implications for efficiency and economic growth. The Keynesian approach to fiscal spending is compared with the structuralist approach, which takes into account initial conditions and inflexibilities facing small developing economies. The government's role in financing accelerated economic development, its social responsibility, and the balancing need for fiscal discipline are also considered. The public finance performance of governments is seen as facing important challenges to its capacity to champion economic development given the increasing global perception of a mostly regulatory and stabilizing role of government.
Author: Stephney Diana Skeete
Publisher:
ISBN:
Category : Caribbean Area
Languages : en
Pages : 170
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Book Description
Author: Michael Howard
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 214
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Book Description
Discusses mainly economic factors influencing Barbadian economic development since the Second World War. This work provides an interpretation of the role of foreign investment and public policy in the development process, within the conceptual framework of institutional structural analysis.
Author: Kempe R. Hope
Publisher: Praeger
ISBN:
Category : Business & Economics
Languages : en
Pages : 240
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Book Description
Author: Inter-American Economic and Social Council. Permanent Executive Committee
Publisher:
ISBN:
Category : Barbados
Languages : en
Pages : 212
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Book Description
Author: Michael Howard
Publisher: Bloomsbury Publishing USA
ISBN: 0313067333
Category : Business & Economics
Languages : en
Pages : 206
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Book Description
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.
Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN: 1475530366
Category : Business & Economics
Languages : en
Pages : 34
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Book Description
This Selected Issues paper discusses data issues and postcrisis growth in Barbados. An analysis of the data on Barbados shows very clear inconsistencies among the various measures of economic development. Although real growth seems to have evolved broadly in line with the rest of the Caribbean, nominal growth and inflation developments suggest that Barbados was hit much harder by the global financial crisis. At the same time, these data may also be misleading. Nominal GDP seems to have inadequate coverage, and inflation is much higher in Barbados than in similar economies in the region.
Author: International Monetary Fund. Monetary and Capital Markets Department
Publisher: International Monetary Fund
ISBN: 1475530390
Category : Business & Economics
Languages : en
Pages : 64
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Book Description
This paper discusses key findings of the Financial System Stability Assessment Report on Barbados. Barbados has a relatively well-developed financial system, including a large offshore sector. The onshore system is dominated by large, regionally active banks. Banking services to the population are also provided by the credit union sector. With a deteriorating fiscal situation and weak growth prospects, Barbados faces considerable macroeconomic vulnerabilities. Although the financial system does not appear to be a source of immediate risk, its position appears to be deteriorating, with implications for systemic stability.
