Issues in Monetary and Fiscal Policy in Small Developing States
A Case Study of the Caribbean
This study examines how monetary and fiscal policies are implemented in Caribbean small states, tracing the differences and similarities in tax structure, current expenditure and current revenues. It shows the impact of monetary policy on inflation and the importance of exchange rate regimes to the effectiveness of monetary policy in the region. The authors show that fiscal stabilisation in the region is very low and as such countries within the region would benefit from insurance mechanisms and stabilisation funds.
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Fiscal Policy Frameworks of Commonwealth Caribbean Economies
This chapter examines the fiscal policies and strategies implemented in Caribbean small states between 1988 and 2007. During this period, especially in the 2000s, governments were active in the implementation of fiscal reforms and tools for the mitigation of shocks such as natural disasters and 9/11. The inherent vulnerability and degree of openness of Caribbean small states impacts on these countries’ economic activity and economic policy strategies.
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