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Interest Rate Spreads in the Eastern Caribbean

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  • 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

  • Ruby Randall, 1998. "Interest Rate Spreads in the Eastern Caribbean," IMF Working Papers 98/59, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:98/59
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    Cited by:

    1. 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.
    2. repec:spi:joabfr:2017:p:34-45 is not listed on IDEAS
    3. repec:rss:jnljfe:v3i2p4 is not listed on IDEAS
    4. 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.
    5. repec:ris:badest:0487 is not listed on IDEAS
    6. Fazurin Jamaludin & Vladimir Klyuev & Anuk Serechetapongse, 2015. "What Drives Interest Rate Spreads in Pacific Island Countries? An Empirical Investigation," IMF Working Papers 15/96, International Monetary Fund.
    7. 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.
    8. Laura Valderrama & Wendell A. Samuel, 2006. "The Monetary Policy Regime and Banking Spreads in Barbados," IMF Working Papers 06/211, International Monetary Fund.
    9. World Bank, 2013. "Zambia Economic Brief, October 2013 : Zambia's Jobs Challenge--Realities on the Ground," World Bank Other Operational Studies 16698, The World Bank.
    10. 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.
    11. 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.
    12. Ephraim W. Chirwa & Montfort Mlachila, 2002. "Financial Reforms and Interest Rate Spreads in the Commercial Banking System in Malawi," IMF Working Papers 02/6, International Monetary Fund.
    13. Joe Crowley, 2007. "Interest Rate Spreads in English-Speaking African Countries," IMF Working Papers 07/101, International Monetary Fund.

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