Volume 3, Number 1 (1997)
Regulation of the Financial Sector
Gloria Knight
As the countries of the English speaking Caribbean liberalize their economies, the financial services sector has, as expected, become a major growth seclor. In the first place the sector is the mobilizer of savings both short and long term. It invests these funds and thus promotes economic activity. Secondly, the sector provides a methodology for matching of liabilities and assets, and facilitates commerce and business. Thirdly, it also provides vehicles through which foreign investment can be made, and intermediates transactions between local and foreign markets.