The Eastern Caribbean Central Bank: Probably Not a Currency Board

Henry Carpenter
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Henry Carpenter: The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise

No 54, Studies in Applied Economics from The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise

Abstract: The International Monetary Fund classifies the Eastern Caribbean Central Bank – representing Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, and Anguilla – as a currency board, but analysis of balance sheet data and monthly financial statements shows that that is probably not the case. The ECCB is at most an extremely unorthodox currency board, and it is now likely nothing more than a central bank, although, according to several statistical tests, until 2008 it behaved more like a currency board.

Keywords: Currency board; Eastern Caribbean Central Bank (search for similar items in EconPapers)
JEL-codes: E58 N16 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2016-06
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Persistent link: https://EconPapers.repec.org/RePEc:ris:jhisae:0054

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