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Between 1990 and 1994, the average size of the public sector in the Caribbean was just 16 percent of GDP, in the five years hence, the ratio has climbed and currently stands at 22 percent of GDP. While an expansion in the size of government usually results in the greater provision of services,...
Persistent link: https://www.econbiz.de/10004965353
Economic theory posits that in a fixed exchange rate regime with unrestricted capital flows, domestic interest rates must track closely those of the country to which the currency is pegged. This paper empirically tests this theory by investigating the sensitivity of interest rates in the Eastern...
Persistent link: https://www.econbiz.de/10005100218