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Western Hemisphere > Dominica

You are looking at 1 - 6 of 6 items for :

  • Type: Journal Issue x
  • Personal Income, Wealth, and Their Distributions x
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Cover IMF Working Papers
The Eastern Caribbean Currency Union: Would a Fiscal Insurance Mechanism Mitigate National Income Shocks?
Mr. Paul Cashin
and
Mr. Antonio Lemus
This paper studies the nature of the shocks affecting the Eastern Caribbean Currency Union (ECCU), and examines whether a hypothetical Eastern Caribbean fiscal insurance mechanism could insure member countries of the union against asymmetric national income shocks. The empirical results suggest that a one dollar reduction in an ECCU member country's per capita personal income could trigger, through reduced income taxes and increased transfers, flows equivalent to about 7 percent of the initial income shock. Each member of the currency union could benefit as well, although the extent of shock mitigation differs across individual countries.
Keywords:
WP; Fiscal insurance mechanism; income shocks; income tax revenue; transfers; Eastern Caribbean Currency Union; ECCU member; insurance mechanism; ECCU growth; ECCU country; ECCU-member country; Personal income; Income tax systems; Disposable income; Caribbean
Cover IMF Working Papers
What Attracts Tourists to Paradise?
Ms. Evridiki Tsounta
This paper investigates the determinants of tourism demand in the Eastern Caribbean Currency Union. We estimate the demand function in a panel setting using annual data from 1979 to 2005. Results show that tourism arrivals are significantly affected by economic developments in the source countries, while price considerations and external shocks (such as hurricanes and wars) are also important. Supply factors, such as developments in foreign direct investment and the number of airlines servicing a destination, are also found to be significant determinants of tourism demand.
Keywords:
WP; tourism sector; demand
Cover IMF Staff Country Reports
Eastern Caribbean Currency Union: Selected Issues
International Monetary Fund
This Selected Issues paper analyzes the income dispersion and comovement in the Eastern Caribbean Currency Union region. It finds that incomes are diverging, with the Leeward Islands converging to a higher income level than the Windward Islands. The paper examines the macroeconomic impact of trade preference erosion on the Windward Islands and demonstrates the substantial impact from preference erosion on growth, trade balances, and fiscal positions. The paper also analyzes the size of the informal economy in the Caribbean.
Keywords:
ISCR; CR; income; cost of capital; per capita income; ECCU country; informal economy estimate; social security scheme; income catch up; EU banana regime; financing cost of capital; FDI deflator; size of the informal economy; Informal economy; Personal income; Agricultural commodities; Securities; Exports; Caribbean; Global
Cover IMF Working Papers
Macroeconomic Implications of Natural Disasters in the Caribbean
Mr. Tobias N. Rasmussen
Each year natural disasters affect about 200 million people and cause about $50 billion in damage. This paper compares the incidence of natural disasters across countries along several dimensions and finds that the relative costs tend to be far higher in developing countries than in advanced economies. The analysis shows that small island states are especially vulnerable, with the countries of the Eastern Caribbean standing out as among the most disaster-prone in the world. Natural disasters are found to have had a discernible macroeconomic impact, including large effects on fiscal and external balances, pointing to an important role for precautionary measures.
Keywords:
WP; ECCU country; country; GDP; government; market; price; Natural Disasters; Eastern Caribbean; Developing Countries; ECCU insurance market; countries of the Eastern Caribbean Currency Union; island state; market insurance; Insurance; Personal income; Fiscal stance; Caribbean; Global
Cover IMF Working Papers
Interest Rate Spreads in the Eastern Caribbean
Mrs. Ruby Randall
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.
Keywords:
WP; interest rate; commercial bank; ECCB; Eastern Caribbean; interest rate spreads; commercial bank costs; return on assets; banking industry; ECCB area; bank interest; ECCB aggregate; ECCB rate; overdraft rate; ECCB loan loss; ECCB interest rate; marginal revenue; bank interest rate spread; United States interest rate; Commercial banks; Deposit rates; Loans; Loan loss provisions; Personal income; Caribbean
Cover IMF Working Papers
Tourism in East Caribbean Countries
International Monetary Fund
This paper studies recent developments in tourism in the East Caribbean countries (ECC) and reviews government policies to support tourism. The paper also presents a model to explain the movements of tourist arrivals to the region during 1970-86. The estimated model is used to project future tourist arrivals in the ECC.
Keywords:
WP; ECC tourism; price index; U.S. dollar; Stayover arrival; price elasticity; tourist arrival; ECC government; ECC market; elasticity estimate; ECC region; ECC economy; Tourism; Personal income; Disposable income; Price elasticity; Agroindustries; Caribbean; North America