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The Eastern Caribbean Central Bank: Probably Not a Currency Board

Author

Listed:
  • Carpenter, Henry

    (The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise)

Abstract

The International Monetary Fund classifies the Eastern Caribbean Central Bank – representing Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, and Anguilla – as a currency board, but analysis of balance sheet data and monthly financial statements shows that that is probably not the case. The ECCB is at most an extremely unorthodox currency board, and it is now likely nothing more than a central bank, although, according to several statistical tests, until 2008 it behaved more like a currency board.

Suggested Citation

  • Carpenter, Henry, 2016. "The Eastern Caribbean Central Bank: Probably Not a Currency Board," Studies in Applied Economics 54, The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise.
    • Handle: RePEc:ris:jhisae:0054
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    File URL: https://sites.krieger.jhu.edu/iae/files/2017/04/Carpenter-H-ECCB.pdf
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    More about this item

    Keywords

    Currency board; Eastern Caribbean Central Bank;

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • N16 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Latin America; Caribbean

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