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Title
Developing sustainable balance of payments in small countries : lessons from macroeconomic deadlock in Jamaica / Andre Haughton.
ISBN
9783319530314 (electronic book)
3319530313 (electronic book)
9783319530307
Published
Cham, Switzerland : Palgrave Macmillan, 2017.
Language
English
Description
1 online resource.
Item Number
10.1007/978-3-319-53031-4 doi
Call Number
HC154
Dewey Decimal Classification
330.9
Summary
This book analyses Jamaica's ability to satisfy its short and long run foreign currency obligations in light of recurrent balance of payment support from international lending agencies. Jamaica is one of the top five indebted nations in the world, and despite entering 13 successive arrangements with the International Monetary Fund over the past 40 years, its depreciating currency continues to drive up debt servicing requirements. The island nation's longstanding relationship with multilateral lending agencies like the IMF serves as a case study for other developing countries that are unable to generate sufficient intrinsic net international reserves and, consequently, suffer from incredibly low GDP growth per annum. The book closes with policy recommendations to bolster the Jamaican economy into solvency so that it can create a sustainable foreign debt repayment plan, and suggests strategies for supporting local economic objectives within global geopolitical constraints.-- Provided by publisher.
Bibliography, etc. Note
Includes bibliographical references and index.
Access Note
Access limited to authorized users.
Digital File Characteristics
text file PDF
Source of Description
Online resource; title from PDF title page (viewed July 13, 2017).
Available in Other Form
Print version: 9783319530307
1. Foreign Currency Flows and the Jamaican Economy
2. Foreign Currency Borrowing and Foreign Debt Sustainability
3. Determinants of Current Account Imbalances
4. Current Account Subgroups and Real Exchange Rate Dynamics
5. Currency Depreciation and Economic Growth
6. Balance of Payments and Capital Account Sustainability
7. Net International Reserve Adequacy and the Optimal Reserves- 8. Foreign Direct Investment, Savings, Investment, and GDP Growth
9. Commercial Banks and the Monetary Transmission Mechanism
10. Concluding Remarks and Policy Recommendations.
