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Ponzi Schemes in the Caribbean
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Author/Editor: |
Carvajal, Ana | Monroe , Hunter K. | Pattillo, Catherine A. | Wynter, Brian |
| Authorized for Distribution: |
April 1, 2009 |
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Electronic Access: |
Free Full Text (PDF file size is 522KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.
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Summary: In several Caribbean states, unregulated investment schemes grew quickly in recent years by claiming unusually high monthly returns and through a system of referrals by existing members. These are features shared with traditional Ponzi schemes and pyramid schemes. This paper describes the growth of such schemes, their subsequent collapse, and the policy response of regulators, and presents key policy lessons. The analysis and recommendations draw on country experiences in the Caribbean, and in such diverse countries as the United States, Colombia, Lesotho, and Albania.
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Series: |
Working Paper No. 09/95 |
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Subject(s): |
Private investment | Caribbean | Capital markets | Securities markets | Nonbank financial sector | Capital flows | Income | Securities regulations | Cross country analysis |
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Author's keyword(s): |
Pyramid schemes
| Ponzi schemes
| Caribbean
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Published: |
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April 1, 2009 |
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Format: |
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Paper |
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Stock No: |
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WPIEA2009095 |
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Pages: |
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44 |
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Price: |
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US$18.00
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