A new approach to development banking in Jamaica

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cepal.bibLevelDocumento Completo
cepal.callNumberINT UN/FI 30(193/2007)
cepal.callNumberLC/L.2732-P
cepal.divisionEngEconomic Development Division
cepal.divisionSpaDivisión de Desarrollo Económico
cepal.docTypeSeries
cepal.idSade28067
cepal.jobNumberS0700301 E
cepal.physicalDescriptiongráficos, tablas
cepal.projectProyecto Strengthening the Role of Regional and National Financial Institutions for Sustainable Social Development GER/03/002
cepal.regionalOfficeSantiago
cepal.saleNumber07.II.G.70
cepal.topicEngFINANCIAL AND MONETARY SECTOR
cepal.topicSpaSECTOR FINANCIERO Y MONETARIO
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaEngSTATISTICS
cepal.workareaSpaDESARROLLO ECONÓMICO
cepal.workareaSpaESTADÍSTICAS
dc.contributor.authorCollister, Keith R.
dc.contributor.entityGerman Agency for Technical Cooperation
dc.contributor.entityNU. CEPAL
dc.contributor.entityNU. CEPAL. División de Desarrollo Económico
dc.coverage.spatialEngJAMAICA
dc.coverage.spatialSpaJAMAICA
dc.date.accessioned2014-01-02T15:43:45Z
dc.date.available2014-01-02T15:43:45Z
dc.date.issued2007-05
dc.descriptionIncludes bibliography
dc.description.abstractAbstract This document analyses development banking in Jamaica, identifying its weaknesses and proposes solutions to address its shortcomings. The first part of the document provides an overview of development banking in developing economies. The second part, "The Jamaican Experience of Development Banking" examines the modus operandi of all Jamaica's post - Independence developmental institutions. The Jamaican experience substantiates the conclusions as to the desultory performance of development banking in the developing world. The third part "Financial Deepening in Jamaica", seeks to address the question "how to rectify this situation" Accordingly, it considers first how Jamaica's development banks might access the international capital markets and hence raise fresh capital in the same manner as their counterparts in developed countries. A condition precedent to such a step would be the need to "clean up their balance sheets". However, it should be borne in mind that it would be impossible to keep their balance sheets clean, operating on the high risk/ low return principle. In making suggestions for the expansion of the range of financial products offered by the development banks, the document points out the need for legislation to make it easier to transfer financial ownership to creditors and for the establishment of a credit bureau to improve access to financial information. It also identifies new financial products. More importantly, to illustrate a proposal that Jamaica's main development bank assume the role of a corporate financier, it likens the institution to a multi-story building, each of whose floors represents a particular level of appetite for risk. Thus, the top floors represent "secured debt" whilst, at the other end of the scale, the ground floor represents equity. The intervening floors represent "Mezzanine or Quasi Equity Financing" including commercial loans, preference shares etc. This illustration sets the stage for what the paper argues in "The Way Forward for Development Banks". In short, the proposal is that the development bank should switch its modus operandi to that of a Venture Capital Corporation (VC);.
dc.formatTexto
dc.format.extent77 páginas.
dc.format.mimetypeapplication/pdf
dc.identifier.isbn9789211216448
dc.identifier.unSymbolLC/L.2732-P
dc.identifier.urihttps://hdl.handle.net/11362/5173
dc.language.isoeng
dc.physicalDescription77 p. : gráfs., tabls.
dc.publisherECLAC
dc.publisher.placeSantiago
dc.relation.isPartOfSeriesSerie Financiamiento del Desarrollo
dc.relation.isPartOfSeriesNo193
dc.rights.coarDisponible
dc.subject.unbisEngBANKING STATISTICS
dc.subject.unbisEngBANKING
dc.subject.unbisEngDEVELOPMENT BANKS
dc.subject.unbisEngDEVELOPMENT FINANCE
dc.subject.unbisEngEVALUATION
dc.subject.unbisEngHISTORY
dc.subject.unbisEngMONETARY SYSTEMS
dc.subject.unbisEngFINANCIAL RESOURCES
dc.subject.unbisSpaBANCOS DE DESARROLLO
dc.subject.unbisSpaESTADISTICAS BANCARIAS
dc.subject.unbisSpaEVALUACION
dc.subject.unbisSpaFINANCIACION DEL DESARROLLO
dc.subject.unbisSpaHISTORIA
dc.subject.unbisSpaOPERACIONES BANCARIAS
dc.subject.unbisSpaSISTEMAS MONETARIOS
dc.subject.unbisSpaRECURSOS FINANCIEROS
dc.titleA new approach to development banking in Jamaica
dc.type.coarlibro
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