An Economic Analysis of the Bahamas Currency Board

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

No 63, Studies in Applied Economics from The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise

Abstract: This paper seeks to answer whether the replacement of the Bahamas currency board by a central bank was a rational decision given the subsequent economic performance climate of the central bank and the Bahamian economy. The paper describes the currency board’s establishment; its switch from the pound sterling to the U.S. dollar as the anchor currency; and its replacement by a proto-central bank soon succeeded by the Central Bank of the Bahamas, which continues in existence today. Statements of the currency board from the Bahamas Gazette as well as other sources will help analyze the aforementioned periods and illustrate the effects each transition had on the economy. The paper will examine the later years of the currency board and test whether it behaved in an orthodox or unorthodox manner as well as exploring its relation to government finance.

Keywords: Bahamas; currency board (search for similar items in EconPapers)
JEL-codes: E59 N16 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2016-10
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Persistent link: https://EconPapers.repec.org/RePEc:ris:jhisae:0063

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