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Title:Macroeconomic policies for growth in small Pacific island economies PDF Logo
Authors:Chowdhury, Anis
Vidyattama, Yogi
Issue Date:2007
Series/Report no.:Research Paper, UNU-WIDER, United Nations University (UNU) 2007/24
Abstract:This paper examines macroeconomic performance and policies in small Pacific island economies (SPIEs). These economies are highly prone to various supply shocks and face severe obstacles to development arising from their geography and demography. However, the paper contends that their lacklustre growth performance over the last two decades has also been due to excessively conservative macroeconomic policies. That is, a confluence of supply shocks and policy-induced constrained demand has resulted in poor economic performance. Given a very weak private sector, poor state of infrastructure and low-level human capital, the paper argues for the leading role of the government. It then elaborates on the elements of macroeconomic policies within a state-led development strategy.
Subjects:Pacific islands
fiscal policy
Document Type:Working Paper
Appears in Collections:WIDER Research Papers, United Nations University (UNU)

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