This paper uses a VAR and VECM framework to examine whether financial development causes growth or vice-versa employing aggregate annual time-series data on Barbados, Grenada, Jamaica, St. Lucia, St. Vincent and the Grenadines and Trinidad and Tobago. The results indicate that a long-run...

In this paper, six versions of Wagner's Law were empirically tested employing aggregate annual time-series data on nine Caribbean countries. The results indicate that a long-run equilibrium relationship between income and government expenditure does not exist for the countries studied, with the...

Using vector autoregressive (VAR) methodology, this paper empirically investigates the macroeconomic effects of oil price fluctuations on Trinidad and Tobago. Overall, we find that the price of oil is a major determinant of economic activity of the country. Our impulse response functions suggest...

Credit unions differ from commercial banks and other financial institutions since their members are the owners of the credit union and they elect board of directors in a democratic one-person-one vote system regardless of the amount of money invested in the credit union. Credit unions contribute...

Using a neo-classical aggregate production model where capital, labour, technology, and energy are treated as separate inputs, this paper tests for the existence and direction of causality between output growth and electrical energy use in Barbados, analysed as a whole and in sectors...

This study examines the disciplanary effect of monetary union in the Caribbean Community (CARICOM); specifically, whether there is a systematic difference between fiscal discipline in the Eastern Caribbean Currency Union (ECCU), a sub-regular grouping in CARICOM and other CARICOM members which...

This study examines the trade flows in commodities for CARICOM countries through the utilization of the traditional gravity model for international trade. Per capita GDP differential, trade to GDP and language all impact trade positively. On the other hand, geographical distance, exchange rate...