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The Pacific speed of growth: how fast can it be and what determines it?

Yang, Y. and Chen, Hong and Singh, S.R. and Singh, Baljeet (2013) The Pacific speed of growth: how fast can it be and what determines it? International Monetary Fund, Washington, the US.

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    Abstract

    This study aims to test within a relatively homogeneous group of small states what differentiates the growth performance of Pacific island countries (PICs) from their peers. We find that PICs are disadvantaged by distance and hampered by lower investment and exports compared with other small island states, but greater political stability, catch-up effects from lower initial incomes, and slower population growth have helped offset some of these disadvantages. On balance, policy-related factors, together with geography-related disadvantages, have led to growth rates in PICs that are much lower than in other small states. We also examine how real exchange rate appreciation, unfavorable developments in the external trade environment, and rising international transport costs may have contributed to PICs’ slower growth over the past decade.

    Item Type: Other
    Subjects: H Social Sciences > HB Economic Theory
    Divisions: Faculty of Business and Economics (FBE) > School of Economics
    Depositing User: Hong Chen
    Date Deposited: 02 Apr 2014 11:22
    Last Modified: 06 Jul 2016 15:06
    URI: http://repository.usp.ac.fj/id/eprint/7349
    UNSPECIFIED

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