Caribbean Approaches to Economic Stabilization
Electronic Access:
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Summary:
In the late 1980s Barbados, Guyana, Jamaica, and Trinidad and Tobago found themselves in severe economic difficulties. Their ensuing economic strategies were all market-based, featured fiscal contraction and trade liberalization, multilateral support loans and, later on, tax and financial sector reforms. However, exchange rate, monetary and public sector wage policies varied greatly. Choice of exchange rate regime was not as fundamental to successful stabilization as was fiscal action, complemented by, but without undue reliance on, monetary policy. The policies employed to reduce debt and to diversify the economic bases also help t lessen vulnerabilities to future economic shocks.
Series:
Working Paper No. 2000/073
Subject:
Banking Consumption taxes Economic sectors Exchange restrictions External debt Foreign exchange Imports International trade Public sector Taxes
English
Publication Date:
March 1, 2000
ISBN/ISSN:
9781451849455/1018-5941
Stock No:
WPIEA0732000
Pages:
32
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