8  Rey (2015); Miranda-Agrippino and Rey (2015). For example, Londono and Wilson (2018) find that U.S. monetary policy variables account for only roughly 10 percent of the six-month ahead forecast error variance of the VIX. In fact, in their study, nonU.S.
What makes matters worse is a preference for investment in marketable securities rather than equity participation in projects. In Barbados there is a scarcity of marketable corporate instruments available for purchase and sale on an ongoing basis. All in all, our financial system provides a range of services that pretty much satisfies the needs of Barbadian households and large and well established businesses.