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Can the Eastern Caribbean Currency Union Afford to Grow Old?

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  • Hunter K. Monroe

Abstract

The demographic transition in the Eastern Caribbean Currency Union (ECCU) now underway is rapid compared with international experience, and emigration is playing a particularly large role. This paper describes and quantifies several factors which could magnify the challenge of pension reform. First, for some ECCU countries, continued emigration at historical rates would considerably advance the projected date at which pension scheme assets are depleted. Second, there is a significant risk that assets will underperform, given the large exposures to the highly-leveraged public sector and to a lesser extent the record with private sector investments. Third, portfolio diversification away from the public sector could be complicated by age-related pressure for greater central government health spending.

Suggested Citation

  • Hunter K. Monroe, 2009. "Can the Eastern Caribbean Currency Union Afford to Grow Old?," IMF Working Papers 09/38, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:09/38
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=22688
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    References listed on IDEAS

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    1. Docquier,Frederic & Marfouk,Abdeslam, 2004. "Measuring the international mobility of skilled workers (1990-2000) : release 1.0," Policy Research Working Paper Series 3381, The World Bank.
    2. Shaun K. Roache, 2007. "Public Investment and Growth in the Eastern Caribbean," IMF Working Papers 07/124, International Monetary Fund.
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    Cited by:

    1. Koffie Ben Nassar & Joel Chiedu Okwuokei & Mike Li & Timothy Robinson & Saji Thomas, 2016. "National Insurance Scheme Reforms in the Caribbean," IMF Working Papers 16/206, International Monetary Fund.

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