Developing Sustainable Balance of Payments in Small Countries

Andre Haughton is Lecturer at the University of the West Indies, Mona in Jamaica. He earned his PhD from the University of Essex in the UK. He is a KPMG Peat Marwick Scholar, a Thomas De La Rue Scholar, and a British Commonwealth Scholar. He is a member of the Private Sector of Jamaica's Economic Policy Committee and the Inter-American Development Bank's Civil Society Consulting Group.

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.