Eastern Caribbean Currency Union : Selected Issues

Eastern Caribbean Currency Union : Selected Issues
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Volume/Issue:
2008/96
Series:
IMF Staff Country Reports
Author(s):
International Monetary Fund
Publisher:
INTERNATIONAL MONETARY FUND
Published Date:
March 2008
DOI:
http://dx.doi.org/10.5089/9781451811728.002
ISBN:
9781451811728
ISSN:
1934-7685
Page:
102
This paper assesses the evolution of Eastern Caribbean Currency Union (ECCU) real exchange rates over time, and examines whether the region has lost competitiveness. The main finding is that there is little evidence of overvaluation of the Eastern Caribbean (EC) dollar. The relationship summarized above permits the calculation of equilibrium current account balances or norms. The financing of ECCU current account imbalances appears stable. This paper also provides evidence on the distinctive impact that tourism plays in the determination of the real exchange rate in tourism-driven economies.
Article

Eastern Caribbean Currency Union: Selected Issues

Author(s):
International Monetary Fund
Published Date:
March 2008
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