Purpose – This paper aims to assess the feasibility of the proposed Caribbean Monetary Union (CMU) by examining the synchronization of business cycles within CARICOM. According to the literature on optimum currencies, the synchronization of business cycles is a key requirement for the...

Does a strong commitment to an exchange rate peg reduce the cost of financial capital to less developed countries? We use a sample of twelve Caribbean countries to examine the impact that the Eastern Caribbean Currency Union (ECCU), a currency board/monetary union, has in lowering the cost of...

Purpose – This paper aims to assess the feasibility of the proposed Caribbean Monetary Union (CMU) by examining the synchronization of business cycles within CARICOM. According to the literature on optimum currencies, the synchronization of business cycles is a key requirement for the...