TY - BOOK ID - 84538576 TI - Financial Sector Reform in Jamaica During 1985-1992, Possible Lessons for the Caribbean PY - 1995 SN - 1462355005 1455282804 1281227757 9786613777829 1455203998 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Banks and Banking KW - Money and Monetary Policy KW - Foreign Exchange KW - Monetary Policy KW - Central Banks and Their Policies KW - Banks KW - Depository Institutions KW - Micro Finance Institutions KW - Mortgages KW - Monetary Policy, Central Banking, and the Supply of Money and Credit: General KW - Monetary Systems KW - Standards KW - Regimes KW - Government and the Monetary System KW - Payment Systems KW - Monetary economics KW - Banking KW - Currency KW - Foreign exchange KW - Credit ceilings KW - Reserve requirements KW - Currencies KW - Open market operations KW - Money KW - Monetary policy KW - Central banks KW - Banks and banking KW - Credit KW - Jamaica UR - https://www.unicat.be/uniCat?func=search&query=sysid:84538576 AB - This paper reviews the Jamaican experience with indirect instruments and contrasts this with the currency board type arrangements of the common currency area governed by the Eastern Caribbean Central Bank (ECCB). Reforms in Jamaica improved intermediation and banking efficiency, but a weak fiscal position and interest rate caps undermined the effectiveness of indirect instruments in attaining monetary control. The apparent stability amongst members of the currency union may mask fiscal pressures. In most Caribbean countries, problems of quasi-fiscal pressures on money supply, and disintermediation due to some regulation, are evident. Resolving these issues are necessary to facilitate the reforms being pursued. ER -