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The paper shares some current trends in the changing role of the IS professional within organisations today and the initiative taken by the Bank of Guyana toward the development of an information system strategic plan. The term 'information system professional' refers to managers and directors of Information Systems or Information Services or Information Technology Departments-those at the helm of these departments and are trying to initiate change within their organisation. The paper concludes by examining the future of the information systems professional and the advice and guidance provided in the development, maintenance and review of corporate and strategic planning. IT strategic planning can no longer be done apart from the business strategic plan. It must be done as an integral part of corporate strategic plan. [ABSTRACT FROM AUTHOR]

The article discusses the newly installed Currency Management System that has been implemented at the Bank of Jamaica. The system was developed to help the currency department effectively do one of their main functions: to issue and redeem the country's coins and notes. The system will be able to maintain accurate accounting records of the notes and coins in circulation and in storage, order new stocks of currency based on current stock levels, and maintain records of issues and redemptions to commercial banks. The paper also discusses several factors that contributed to the commercial success of the project, including capturing transactions online as the happen, allowing the user to control specific events, and incorporating authorization and audit requirements into the system.

The Central Bank of Trinidad & Tobago's computerization effort had its beginnings in the IBM mainframe technology. During the period 1990/1991 a Token Ring Local Area Network (LAN) was implemented in an attempt to satisfy a need by User Departments for flexibility to develop and possibly modify their own systems and massage their data using the various spreadsheet, word processing and database applications supported on the PC. This LAN consisted of an IBM server running the Novell Netware operating system, with PC and Mac clients. The LAN Design of the Central Bank of Trinidad and Tobago has been changing ever since. A LAN with a similar configuration was later introduced for training and testing purposes, and as the environment evolved, an NCR UNIX host and Sun Spare servers were added. This paper attempts to discuss the experiences of the Bank as it strives to set up an infrastructure to support Open Systems. The impact on the cabling infrastructure of the addition of workstations, printers and print servers are being reviewed. Network components, networking trends and emerging standards for hardware and software had to be re-evaluated. Network Management is another area which is being critically assessed. As these changes are being reviewed and implemented, we are eagerly anticipating an environment which is less stressful, more reliable and manageable. [ABSTRACT FROM AUTHOR]

The article discusses the security system in place at the Central Bank of the Bahamas. The bank would rather not talk explicitly about their system so as not to compromise it in any way, particularly it's Electronic Data Processing (EDP) system. The paper also intends to review the history of security in EDP systems within the Central Bank of the Bahamas which, in its beginnings, was invariably grouped together with physical safety. Beginning in the early eighties, EDP has begun to evolve in its method of data processing. Security measures were also being implemented which placed more emphasis on expanding the user community to include a more organized method of assigning users identification and passwords.

This paper analyses the main factors that have determined saving in Latin America, both at micro and macroeconomic levels. After assessing them, some policy measures that can be implemented in the Region are recommended to stimulate domestic saving and maintain it within the countries that generate it. Likewise, it includes a study of the evolution of saving, investment, consumption and external finance in Latin America, as well as an analysis of the relation between saving, macroeconomic stability, and inflation. Investment options in Latin America are analyzed in the analytical framework of the portfolio theory, and some comments are made on the possibility to improve some financial instruments used in the Region. Some suggestions are made on policy alternatives that can be implemented to increase domestic saving. [ABSTRACT FROM AUTHOR]

This paper estimates the parameters of the CES production function for the non-agriculture and cattle sector of the Mexican economy and the technological changes in this sector during 1960-1986. Five different methods were used to estimate the coefficients of the function, including direct estimates with non-linear systems, by stages and variable transformations. With the values of the parameters obtained, the path of technological change and relative factor efficiency were estimated. The study led to conclude that the substitution elasticity between labor and capital in the non-agriculture and cattle sector of the Mexican economy is very low (between 0. 18 and 0. 48) and technological change tends to be capital intensive and labor saving, with labor productivity above that of capital in 190%, during the period under consideration. The main implication in this combination of technological bias saving labor with low substitution elasticity, is that the sector needed greater capital investment to bring about certain quantities of production and employment than it would have if technology had been more neutral and substitution elasticity unitary or higher. This explains, in part, the growing need of external finance for the economy, which resulted in an accelerated process of external indebtedness. [ABSTRACT FROM AUTHOR]

This paper analyzes the way in which Barbados, Jamaica and Trinidad and Tobago neutralized the changes in international reserves due to different external shocks from 1969 to 1986. The economies of Trinidad and Barbados, which different external conditions, were found to be able to neutralize these external shocks (Trinidad through substantial fiscal deficits and Barbados by developing its banking system, maintaining stable monetary coefficients and conservative fiscal policies). Both avoided monetization and major fluctuations in their money supply. Jamaica, which is a diversified economy with serious external debt problems and deteriorating terms of trade, followed a very expansionist fiscal policy during the 70's; however, it has been able to neutralize external shocks to a great extent, compensating the fall in its external net assets with an increase in net government bonds. The indicators of development in the financial sector used for the analysis show that the financial systems of Barbados and Jamaica are comparable to those in major semi-industrial countries, but the banking sector in Trinidad is not as developed. [ABSTRACT FROM AUTHOR]

The objective of this paper is to analyze the possibilities of growth, for six Caribbean Countries during 1988-2000: Barbados, Costa Rica, Guatemala, Jamaica, Dominican Republic, and Trinidad & Tobago. Different alternatives that their external sectors could face were analyzed, such as varying conditions of external debt service, the effect of an increase in the growth rate of the output of their main commercial partners on their exports, and the effect of receiving a new capital flow for investment without immediate repayment. A Harrod-Domar type model was designed for the purpose, modified to include the limitations imposed by credit flow restrictions on these countries. The results of the analysis show that the growth of their main commercial partners or a flow of new external credit lower than debt servicing payments would not support a significant growth in their future output. However, if the effect of new capital flows only for productive investment is included, there is a noticeable increase in the growth rates of the more indebted, as well as an improvement in all welfare indicators. [ABSTRACT FROM AUTHOR]

This paper analyses the effects of exogenous changes in the terms of trade on short term fluctuations of the balance of payment in Mexico (concerning a monetary approach and a fixed exchange rate), during 1948-1984. Variations in the terms of trade are here stated to repercuss on transformations of real activities and through them on the demand for real balances and on the balance of payments. A wide description and use of Granger and Sims techniques are made in the document to prove the causal patterns of a double variable system (domestic monetary variables and inflation) given the implicit assumption of the model that considers the exogenous character of the inflation rate with regard to the domestic monetary variables. The results obtained from the model allow to stress the importance of and concern for variations in the terms of trade concerning the real activity as well as the balance of payment. [ABSTRACT FROM AUTHOR]

The intention of this paper is to compare the theoretical framework of stabilization programs that Latin America has experienced during the last twenty years so to consider which one fits reality. Also, orthodox and heterodox adjustments implemented in South America are analyzed. From the experience of Argentina and Brazil, the conclusion is that, in order to reach long term, with a heterodox adjustment, it is necessary to consider the temporary character of price freezing and the adoption of administered prices, once inflationary inertia has diminished and the coordination of agent's expectations has taken place. [ABSTRACT FROM AUTHOR]

This paper shows the use of three methodological focuses to build short term situations. The techniques are applied to the information from four Latin American countries. In the case of Panama, there is an exercise that leads to a short term macroeconometric model, unique in Latin American in the last decade. For the date from Guatemala, a conceptually reduced model is used which, aiming at the foreign debt problem, stresses its validity for this decade. The data from Mexico and Costa Rica are handled with modern techniques of time series analysis. For Mexico, the data has been assessed under the cyclical concepts of dating the time series, hence susceptible of comparative analysis. [ABSTRACT FROM AUTHOR]

This paper is an analysis of the productive structure, the implementation of economic policies, and the evolution of the 13 economies in the English-speaking Caribbean, during the period 1979-1986. It also includes a study of the main multilateral institutions and agreements in the region. The importance of the Caribbean Community (CARICOM) for the economic integration of its members is stressed, since it has enhanced trade possibilities by developing an interregional market. The effects of external shocks in slackening the economic growth of these countries and their efforts to offset them are also stressed. [ABSTRACT FROM AUTHOR]

This paper describes the characteristics of the regional model of monetary and financial cooperation in Latin America and the Caribbean, which form the summary of the efforts realized for that purpose by the regional authorities during the last thirty years. The regional experiences on sustaining mechanisms for the balance of payments show in general a limited capacity of resources and an acceptable operating development. Among these models, the Andean Reserves Fund is the subregional organism which has been more successful in its institutional development. The data presented here prove the will of searching financial mechanisms of regional cooperation which may sustain the economic integration processes. Nevertheless, the account presented here is rich in cases where the possibilities of success of these efforts depends on the political will of the concerned governments. [ABSTRACT FROM AUTHOR]

This paper analyses the dynamics of the Latin American external debt using a model for an open economy with three goods: two are marketable and one is not. The equilibrium in this economy will depend on the level reached by its external debt, as an increase in the balance of the latter will require a real depreciation or a devaluation in the exchange rate, which will induce a surplus in the balance of payments current account in order to cover the new debt service. At the same time, the devaluation expectations created by the debt increase affect the price level and the interest rates, and, consequently, the employment level, investment and the future capital stock. In this analytical framework the experience of five Latin American countries during the late 70s, is explained, when they adopted a growing strategy financed with external borrowing. This was possible because these economies notably increased their exports value in real terms, and considered that they had enough exporting capacity to cover the increasing service of the external debt. The fall in the terms of trade and the increase in the international interest rates since 1980, radically modified the external environment of these economies involving them in the dynamics of indebtedness; which is here discussed. [ABSTRACT FROM AUTHOR]

The object of this research is to explain the financial crisis occurred in Mexico between 1976 and 1982, by analyzing the portfolio decisions of the private sector as well as the increase in liquidity in the economic system. These two aspects have been linked to fiscal, exchange rate, and interest rate policies through a monetary model designed by Girton and Roper (1977) characterizing the "pressure in the exchange market. " The paper is divided into four chapters, the first of which deals with the development of the theoretical framework starting with the first studies that established a relationship between the money market and the balance of payments, and ending with the Girton and Roper model. The second chapter offers an analysis of the economic policies implemented in the country, focusing on fiscal policy, exchange rates, devaluation expectations and substitution among financial assets by individuals. The analysis of the different monetary demand equations adapted to the available data is carried out in the third chapter. The econometric work concentrates on the introduction of expected variables (income, interest rates, and inflation), to estimate the demand for money, foreign exchange attraction, and deposits in the United States. Brief conclusions are presented in the fourth chapter. This research provides results that differ from those in other similar studies regarding the importance of expected devaluations in portfolio decisions by individuals and, consequently, in international reserves and the exchange rates. The results suggest the importance of maintaining an exchange rate that will not generate expectations of devaluation and that, in financing the public deficit, will not provoke an immediate increase in liquidity. [ABSTRACT FROM AUTHOR]

This paper is concerned with Professor Robert Triffin's simplified monetary and income analysis model applied to 21 countries from Latin America and the Caribbean. The model works with two channels of monetary expansion: excess expenditure in relation to output or credit monetization. The estimates from the model are successful for all countries, but the results differ due to the characteristics of each country and the dynamic processes involved. An interesting result is that in those countries in which monetary expansion in relative terms, was greatest, domestic output lost weight in compensating expenditure. Another interesting aspect is that, with monetary expansion, prices have compensated for diminished output. [ABSTRACT FROM AUTHOR]

In the 1960's, various Latin American countries began to implement an external sector development strategy by utilizing policies that would increase their amount of exported goods. The success that is encountered with such policies is dependent upon several key factors and instruments, including financial, import, and commercial policies. The goal of the paper is to review the success that varying countries, such as Argentina, Brazil, Colombia, and Mexico, after the policy has been implemented.