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Financial System Soundness in the Caribbean: An Initial Assessment

Author

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  • Mr. Desiree Cherebin
  • Mr. Rupert D Worrell
  • Ms. Tracy Polius

Abstract

A survey of the financial systems of Caribbean countries reveals systems dominated by banks, with services widely available. Jamaica is the only country to have experienced a financial crisis. The paper describes recent improvements in the regulatory framework, and examines factors, which affect the soundness of the financial system, using both intuitive and econometric methodologies. The study identifies regulatory improvements that are needed, as well as additional data and analysis required to complete the assessment, which revealed no new threats to the financial system.

Suggested Citation

  • Mr. Desiree Cherebin & Mr. Rupert D Worrell & Ms. Tracy Polius, 2001. "Financial System Soundness in the Caribbean: An Initial Assessment," IMF Working Papers 2001/123, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2001/123
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=15325
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    References listed on IDEAS

    as
    1. Reinhart, Carmen & Calvo, Guillermo, 2000. "When Capital Inflows Come to a Sudden Stop: Consequences and Policy Options," MPRA Paper 6982, University Library of Munich, Germany.
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    Cited by:

    1. Adrian E. Tschoegl, 2004. "Financial Crises and the Presence of Foreign Banks," International Finance 0405016, University Library of Munich, Germany.
    2. Bayangos, Veronica B. & Cachuela, Rafael Augusto D. & Prado, Fatima Lourdes E. Del, 2021. "Impact of extreme weather episodes on the Philippine banking sector – Evidence using branch-level supervisory data," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 2(1).
    3. Aykut Kibritcioglu, 2002. "Monitoring Banking Sector Fragility," Macroeconomics 0206004, University Library of Munich, Germany, revised 17 Mar 2006.
    4. Brei, Michael & Mohan, Preeya & Strobl, Eric, 2019. "The impact of natural disasters on the banking sector: Evidence from hurricane strikes in the Caribbean," The Quarterly Review of Economics and Finance, Elsevier, vol. 72(C), pages 232-239.
    5. Andrew Lewis, 2016. "The Path to Sustainable Development through the Splitting of the Foreign Exchange Reserves," Journal of Management and Sustainability, Canadian Center of Science and Education, vol. 6(2), pages 97-102, June.
    6. Mr. Rupert D Worrell, 2004. "Quantitative Assessment of the Financial Sector: An Integrated Approach," IMF Working Papers 2004/153, International Monetary Fund.

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