01785cas a2200241 a 4500 AALejournalIMF004414 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451851366 1018-5941 BD-DhAAL BD-DhAAL Marston, Dewitt. Financial Sector Reform in Jamaica During 1985-1992, Possible Lessons for the Caribbean / Dewitt Marston. Washington, D.C. : International Monetary Fund, 1995. 1 online resource (32 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper reviews the Jamaican experience with indirect instruments and contrasts this with the currency board type arrangements of the common currency area governed by the Eastern Caribbean Central Bank (ECCB). Reforms in Jamaica improved intermediation and banking efficiency, but a weak fiscal position and interest rate caps undermined the effectiveness of indirect instruments in attaining monetary control. The apparent stability amongst members of the currency union may mask fiscal pressures. In most Caribbean countries, problems of quasi-fiscal pressures on money supply, and disintermediation due to some regulation, are evident. Resolving these issues are necessary to facilitate the reforms being pursued. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1995/090 Full text available on IMF http://elibrary.imf.org/view/journals/001/1995/090/001.1995.issue-090-en.xml IMF e-Library