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Interest Rate Spreads in the Eastern Caribbean

Author

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  • Mrs. Ruby Randall

Abstract

This paper examines interest rate spreads in the Eastern Caribbean and seeks to explain why they are persistently high by comparison with other low-inflation countries. The paper concludes that operating costs appear to be a key determinant of observed interest rate spreads, giving rise to the policy recommendation that efforts to expand the market size of efficient banks might help pave the way for greater efficiency.

Suggested Citation

  • Mrs. Ruby Randall, 1998. "Interest Rate Spreads in the Eastern Caribbean," IMF Working Papers 1998/059, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1998/059
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    Citations

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    Cited by:

    1. Mr. Joe Crowley, 2007. "Interest Rate Spreads in English-Speaking African Countries," IMF Working Papers 2007/101, International Monetary Fund.
    2. Allister Mounsey & D. Tracy Polius, 2015. "Is It Time to Revisit the Savings Rate Floor in the ECCU?," Economic Affairs, Wiley Blackwell, vol. 35(1), pages 75-92, February.
    3. Mr. Ephraim W. Chirwa & Mr. Montfort Mlachila, 2002. "Financial Reforms and Interest Rate Spreads in the Commercial Banking System in Malawi," IMF Working Papers 2002/006, International Monetary Fund.
    4. David Tennant & Abiodun Folawewo, 2009. "Macroeconomic and market determinants of interest rate spreads in low- and middle-income countries," Applied Financial Economics, Taylor & Francis Journals, vol. 19(6), pages 489-507.
    5. Anthony Birchwood & Michael Brei & Dorian Noel, 2016. "Bank interest margins and regulation in Central America and the Caribbean," Working Papers hal-04141575, HAL.
    6. Saibal Ghosh, 2008. "Regulatory Pressure, Market Discipline, and Bank Spreads in India: An Empirical Exploration," Global Economic Review, Taylor & Francis Journals, vol. 37(2), pages 227-247.
    7. George Owusu-Antwi & Rachna Banerjee & James Antwi, 2017. "Interest Rate Spread on Bank Profitability: The Case of Ghanaian Banks," Journal of Accounting, Business and Finance Research, Scientific Publishing Institute, vol. 1(1), pages 34-45.
    8. Birchwood, Anthony & Brei, Michael & Noel, Dorian M., 2017. "Interest margins and bank regulation in Central America and the Caribbean," Journal of Banking & Finance, Elsevier, vol. 85(C), pages 56-68.
    9. Roland Banya & Nicholas Biekpe, 2018. "Banking efficiency and its determinants in selected frontier african markets," Economic Change and Restructuring, Springer, vol. 51(1), pages 69-95, February.
    10. Poghosyan, Tigran, 2013. "Financial intermediation costs in low income countries: The role of regulatory, institutional, and macroeconomic factors," Economic Systems, Elsevier, vol. 37(1), pages 92-110.
    11. Ms. Laura Valderrama & Mr. Wendell A. Samuel, 2006. "The Monetary Policy Regime and Banking Spreads in Barbados," IMF Working Papers 2006/211, International Monetary Fund.
    12. Colin Cannonier & Monica Galloway Burke, 2017. "Tourism and financial development in small states," Tourism Economics, , vol. 23(6), pages 1369-1377, September.
    13. Hossain, Monzur, 2012. "Financial reforms and persistently high bank interest spreads in Bangladesh: Pitfalls in institutional development?," Journal of Asian Economics, Elsevier, vol. 23(4), pages 395-408.
    14. World Bank, 2013. "Zambia Economic Brief, October 2013 : Zambia's Jobs Challenge--Realities on the Ground," World Bank Publications - Reports 16698, The World Bank Group.
    15. Mr. Fazurin Jamaludin & Mr. Vladimir Klyuev & Anuk Serechetapongse, 2015. "What Drives Interest Rate Spreads in Pacific Island Countries? An Empirical Investigation," IMF Working Papers 2015/096, International Monetary Fund.
    16. Idi Jackson Mdoe & Jacob O. Omolo & Nelson H. Wawire, 2019. "Bank Competition in Kenya," Journal of Industry, Competition and Trade, Springer, vol. 19(1), pages 83-102, March.
    17. Benard Kiptoo Rono & Lewis Wakoli Wachilonga & Robert Silikhe Simiyu, 2014. "Assessment of the Relationship between Interest Rate Spread and Performance of Commercial Banks Listed In Nairobi Securities Exchange," International Journal of Financial Economics, Research Academy of Social Sciences, vol. 3(2), pages 98-112.
    18. Mujeri, Mustafa K & Younus, Sayera, 2009. "An Analysis of Interest Rate Spread in the Banking Sector in Bangladesh," Bangladesh Development Studies, Bangladesh Institute of Development Studies (BIDS), vol. 32(4), pages 1-34, December.

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