BazEkon - The Main Library of the Cracow University of Economics

BazEkon home page

Main menu

Author
Michałowski Tomasz (Uniwersytet Gdański)
Title
Mechanizmy i problemy funkcjonowania Wschodniokaraibskiej Unii Walutowej
The Eastern Caribbean Currency Union: Mechanisms and Challenges
Source
Prace i Materiały Instytutu Handlu Zagranicznego Uniwersytetu Gdańskiego, 2011, nr 30, s. 9-20, bibliogr. 27 poz.
Keyword
Unia walutowa, Finanse międzynarodowe
Currency union, International finance
Note
summ.
Country
Karaiby
Caribbean
Abstract
Wschodniokaraibska Unia Walutowa (Eastern Caribbean Currency Union - ECCU) obejmuje 8 niezwykle małych gospodarek regionu Karaibów, wśród których znajduje się 6 niepodległych krajów (Antigua i Barbuda, Dominika, Grenada, St. Kitts i Nevis, St. Lucia, St. Vincent i Grenadyny) oraz dwa brytyjskie terytoria zależne (Anguilla i Montserrat). Obszar ten zajmuje powierzchnię niespełna 3 tys. km2 (mniej niż 1% powierzchni Polski) i jest zamieszkały przez około 620 tys. osób. Wielkość terytoriów poszczególnych członków ECCU waha się od około 100 km2 w przypadku Anguilli i Montserratu do 750 km2 w przypadku Dominiki. Ostatni z wymienionych krajów odznacza się największą populacją (ponad 170 tys. mieszkańców). Terytorium o najmniejszej liczbie mieszkańców (5,9 tys.) jest z kolei Montserrat. (fragment tekstu)

The Eastern Caribbean Currency Union (ECCU) consists of six independent states (Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Lucia, St. Vincent and Grenadines) and two British overseas territories (Montserrat and Anguilla). These are extremely small and open economies which are highly vulnerable to external shocks. The predecessors of the ECCU were: the British Caribbean Currency Board (BCCB) which was established in 1950 and the Eastern Caribbean Currency Authority which replaced BCCB in 1965. The pillar of ECCU is the Eastern Caribbean Central Bank which was established in 1983. It issues the common currency (the Eastern Caribbean dollar, EC$) and conducts monetary policy. The ECCU operates as a quasi currency board with the exchange rate of EC$ pegged to the US dollar (EC$2.70=US$1) and the minimum foreign exchange cover equivalent to 60% of the monetary base. The ECCU has been quite effective in ensuring price stability. Nowadays, one of the most important challenges for the members of this Caribbean monetary union are very high levels of public debt. (original abstract)
Full text
Show
Bibliography
Show
  1. About the OECS: Mission & Objectives, http://www.oecs.org, 16.04.2011.
  2. Beek F. van i in., The Eastern Caribbean Currency Union: institutions, performance, and policy, "Occasional Paper", No. 195, IMF, Washington, D.C. 2000.
  3. Communique of the 69th Meeting of the Monetary Council, 11 February 2011, http://www.eccb-centralbank.org, 20.04.2011.
  4. Dehesa M., Druck P., The Eastern Caribbean Central Bank: Challenges to an Effective Lender of Last Resorts, "Working Paper", No WP/08/214, IMF, Washington, D.C. 2008.
  5. Dodhia D., The emerging debt problems of small states, "Economic Paper", No 78, Commonwealth Secretariat, London 2008.
  6. Eastern Caribbean Central Bank Agreement Act, 1983, http://www.eccb-centralbank. org, 16.04.2011.
  7. Eastern Caribbean Central Bank Corporate Governance Charter, http://www.eccb-centralbank.org, 16.04.2011.
  8. Eastern Caribbean Currency Union: 2006 Regional Discussions-Staff Report; and Public Information Notice on the Executive Board Discussion on the Eastern Caribbean, IMF Country Report, No 07/96, IMF, Washington, D.C., March 2007.
  9. Eastern Caribbean Currency Union: Selected Issues, IMF Country Report No. 08/96, IMF, Washington, D.C. 2008.
  10. Eastern Caribbean Currency Union: Selected Issues, IMF Country Report No 11/32, IMF, Washington, D.C. 2011.
  11. ECCB Annual Report 2008/2009, Eastern Caribbean Central Bank, Basseterre 2009.
  12. ECCB Annual Report 2009/2010, Eastern Caribbean Central Bank, Basseterre 2010.
  13. Fund Assistance for Countries Facing Exogenous Shocks, Policy Development and Review Department, IMF, Washington, D.C. 2003.
  14. Juan-Ramen V.H., Randall R., Williams O., A Statistical Analysis of Banking Performance in the Eastern Caribbean Currency Union in the 1990s, "Working Paper", No WP/01/105, IMF, Washington, D.C. 2001.
  15. Michałowski T., Integracja gospodarcza w ramach CARICOM jako przykład procesów integracyjnych w regionie Karaibów, w: Wyzwania gospodarki globalnej, red. H. Treder, H. Zołądkiewicz, Prace i Materiały Instytutu Handlu Zagranicznego Uniwersytetu Gdafskiego, nr 28/1, FRUG, Sopot 2010.
  16. OECS Economic Union goes into effect, January 24, 2011, http://www.caribbean360. com, 21.04.2011.
  17. Regional Economic Outlook Western Hemisphere: Heating up in the South, Cooler in the North, IMF, Washington, D.C., October 2010.
  18. Revised Treaty of Basseterre Establishing the Organisation of Eastern Caribbean States Economic Union, http://www.oecs.org, 21.04.2011.
  19. The Story of the EC Dollar and The Eastern Caribbean Central Bank - The Coming of Age of Small Island States, http://www.eccb-centralbank.org, 16.04.2011.
  20. Tourism Data, Quarterly Data - March 2001 to September 2010, http://www.eccb-centralbank.org, 10.04.2011.
  21. Trade and Development Report, 2007, United Nations, New York and Geneva 2007.
  22. Trade Policy Review, Overview Report by the Secretariat, OECS-WTO Members, WT/TPR/S/190, 1 October 2007, http://www.wto.org, 21.04.2011.
  23. United Nations Retrieval System, http://data.un.org, 09.04.2011.
  24. United Nations Statistics Division, http://unstats.un.org, 09.04.2011.
  25. Williams O., Hazel S., Reserve Pooling in the ECCB Region: A comparative Analysis, XXX Annual Monetary Studies Conference, Bahamas, October 26-30, 1998, The Central Bank of the Bahamas 1998.
  26. World Development Indicators & Global Development Finance, http://databank.world- bank.org; 09.04.2011.
  27. Worrell D., Marshall D., Smith N., The Political Economy of Exchange Rate Policy in the Caribbean, "Research Network Working Paper", No R-401, Inter-American Development Bank, Washington, D.C. 2000.
Cited by
Show
ISSN
2300-6153
Language
pol
Share on Facebook Share on Twitter Share on Google+ Share on Pinterest Share on LinkedIn Wyślij znajomemu