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Caribbean small states are a diverse set of countries. The countries can be grouped as commodity exporters, service-based economies, mainly tourism and financial services, and the micro-states of the ECCU. At the same time, many countries in the region share similar economic characteristics. They are small economies, very open to international trade, and highly exposed to natural disasters and economic shocks. The Caribbean is one of the most disaster-prone regions in the world. The financial sector in the Caribbean is large relative to economic size and is dominated by banks. Total assets of the financial systems in the region averaged 320 percent of GDP, with 149 percent of GDP held by banks. However, limited access to credit and high interest rates still stifle private sector business expansion in some countries. Growth in the Caribbean has stagnated in the last two decades, except in commodity exporters. The last rapid growth spurt in the 1980s was fueled mainly by expansion of tourism, banana production, and public investments