Economic Adjustment Policies for Small Nations

Delisle Worrell . . . has written a thoughtful book that will be of value to businessmen, academics, policy analysts and others interested in the Caribbean. . . . The book covers many . . . important topics, such as regional economic integration, external debt and the growth of Caribbean manufacturing. The six technical appendices include an economic forecasting model for the Caribbean. Those who work in, or deal with, the Caribbean will find his book a valuable reference. Business Economics

This authoritative anthology contains papers which examine economic and monetary policy-making in the English speaking Caribbean from 1975 to 1985, during major shifts in the economies of those nations. The papers grew out of the 20th Annual Caribbean Regional Programme of Monetary Studies conference. They cover a number of areas, including money, finance, trade, payments, prices, exchange rates, and economic cooperation. This work is an excellent resource for courses in development, international economics, international business, and Latin America.

The articles first focus on the uses of monetary policy in the Caribbean, ways of adjusting the balance of external payments, and the design of fiscal policy. Contributors then examine specific policies undertaken in each currency area in the region, identifying what worked and what did not. Finally, an agenda for ongoing research into the features, problems, and potentials of the Caribbean is outlined.

Delisle Worrell is Director of Research and Information at the Central Bank of Barbados. He received his PhD from McGill University, Montreal and is the author of Small Island Economies: Structure and Performance in the English-speaking Caribbean Since 1970 (Praeger, 1987).

Compton Bourne is professor of economics at the University of the West Indies, St. Augustine, Trinidad. He is currently working on development strategies of the Caribbean and the financial structure of Trinidad and Tobago.