Ponzi Schemes in the Caribbean
AbstractIn several Caribbean states, unregulated investment schemes grew quickly in recent years by claiming unusually high monthly returns and through a system of referrals by existing members. These are features shared with traditional Ponzi schemes and pyramid schemes. This paper describes the growth of such schemes, their subsequent collapse, and the policy response of regulators, and presents key policy lessons. The analysis and recommendations draw on country experiences in the Caribbean, and in such diverse countries as the United States, Colombia, Lesotho, and Albania.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 09/95.
Date of creation: 01 Apr 2009
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-05-23 (All new papers)
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- Chris Jarvis, 2000. "The Rise and Fall of the Pyramid Schemes in Albania," IMF Staff Papers, Palgrave Macmillan, vol. 47(1), pages 1.
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- Tennant, David, 2011. "Why do people risk exposure to Ponzi schemes? Econometric evidence from Jamaica," Journal of International Financial Markets, Institutions and Money, Elsevier, Elsevier, vol. 21(3), pages 328-346, July.
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