Measuring financial development in Barbados: 1978-1998

Author(s): Bynoe-Mayers, Nola; Craigwell, Roland (2000)

Created 22 Jul, 2000
Categories Working Papers Roland Craigwell Special Collection
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This paper constructs a new index for measuring financial development in Barbados that is based on key characteristics of the financial system. The results indicate that Barbados has improved its level of financial development during the period 1978 to 1998 and this may be attributed to an increase in the availability of new financial products and a more open financial system. Also, it was found that he Monetary Authority has utilised most of the monetary instruments available worldwide throughout the period. Of major concern is the under development of the market structure and the financial liberalization segments of the financial system.

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