IDEAS home Printed from https://ideas.repec.org/a/cvv/journ2/v12y2025i2p83-94.html

The Eastern Caribbean Central Bank: Probably not a currency board

Author

Listed:
  • Henry CARPENTER

Abstract

This article critically examines the institutional structure and monetary operations of the Eastern Caribbean Central Bank (ECCB). Although often described as a currency board, the ECCB exhibits several characteristics that diverge from orthodox currency board principles. The paper analyzes its reserve backing, exchange rate policy, and discretionary powers, concluding that the ECCB functions more like a conventional central bank than a true currency board.

Suggested Citation

  • Henry CARPENTER, 2025. "The Eastern Caribbean Central Bank: Probably not a currency board," Turkish Economic Review, EconSciences Journals, vol. 12(2), pages 83-94, June.
    • Handle: RePEc:cvv:journ2:v:12:y:2025:i:2:p:83-94
    as

    Download full text from publisher

    File URL: https://journals.econsciences.com/index.php/TER/article/download/2559/3330
    Download Restriction: no
    File URL: https://journals.econsciences.com/index.php/TER/article/view/2559
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Steve H. Hanke, 2008. "Friedman: Float or Fix?," Cato Journal, Cato Journal, Cato Institute, vol. 28(2), pages 275-285, Winter.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Alexandra DIEHL, 2022. "The Burma currency board," Journal of Economics Library, EconSciences Journals, vol. 9(3), pages 178-197, September.
    2. Nicholas Krus, 2012. "The Money Supply in Currency Boards," Studies in Applied Economics 3, The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise.
    3. Alberto Behar & Armand Fouejieu, 2018. "External adjustment in oil exporters: The role of fiscal policy and the exchange rate," The World Economy, Wiley Blackwell, vol. 41(3), pages 926-957, March.
    4. Dellas, Harris & Tavlas, George S., 2009. "An optimum-currency-area odyssey," Journal of International Money and Finance, Elsevier, vol. 28(7), pages 1117-1137, November.
    5. Ryan Freedman, 2017. "Did the Philippine Islands Have a Currency Board during the American Colonization Period?," Studies in Applied Economics 92, The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise.
    6. Tara Iyer, 2016. "Optimal Monetary Policy in an Open Emerging Market Economy," Working Paper Series WP-2016-6, Federal Reserve Bank of Chicago.
    7. Marissa Licursi, 2016. "Before Entering the East African Currency Board: The Case of Zanzibar (1908 – 1935)," Studies in Applied Economics 44, The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise.
    8. Bogdan Căpraru & Iulian Ihnatov, 2011. "The Effect Of Exchange Rate Arrangements On Transmission Of Interest Rates And Monetary Policy Independence: Evidence From A Group Of New Eu Member Countries "," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice (1954-2015), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 58, pages 71-81, november.
    9. Noah Naparst, 2018. "Was the Cassa per la Circolazione Monetaria della Somalia an Orthodox Currency Board?," Studies in Applied Economics 125, The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise.
    10. Emilio Ocampo, 2022. "Milton Friedman: An Early Advocate of Dollarization?," CEMA Working Papers: Serie Documentos de Trabajo. 836, Universidad del CEMA.
    11. Preston Wessells, 2016. "Currency Board Monetary System: The Case of British Honduras (1894-1976)," Studies in Applied Economics 60, The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise.

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cvv:journ2:v:12:y:2025:i:2:p:83-94. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Bilal KARGI (email available below). General contact details of provider: https://journals.econsciences.com/index.php/TER .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.