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Title:Small states in a global economy: The role of institutions in managing vulnerability and opportunity in small developing countries PDF Logo
Authors:Bräutigam, Deborah
Woolcock, Michael
Issue Date:2001
Series/Report no.:WIDER Discussion Papers // World Institute for Development Economics (UNU-WIDER) 2001/37
Abstract:Small states have always been more vulnerable in the global economy. This is so because trade comprises a larger proportion of their economic activity, and because they lack the power to set the terms or make any of the rules that govern globalization. Studies of small states tend to focus on the nature of their vulnerabilities, without considering that these countries have managed external pressures in different ways. Globalization brings opportunities as well as risks, and a more integrated global economy may enable smaller states to adapt quickly to changing conditions, and to more readily pursue strategic development policies.
Subjects:small island economies
growth
governance
JEL:F01
O19
O40
Document Type:Working Paper
Appears in Collections:WIDER Discussion Papers, United Nations University (UNU)

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