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The rule of law and economic recovery in Fiji: lessons not learnt since 1987

Prasad, Biman C. (2008) The rule of law and economic recovery in Fiji: lessons not learnt since 1987. Pacific Economic Bulletin, 23 (2). pp. 207-213. ISSN 0817-8038

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Fiji’s economic recovery after the 5 December 2006 coup has been high on the agenda of the Interim Government, and dominates most discussions in Fiji. There are various scenarios that are being debated. The Interim Finance Minister and some other ministers are arguing that the country is on the road to recovery. Other observers, including the Reserve Bank of Fiji, have pointed out (using the government’s own statistics) that the economy is on the decline. The Reserve Bank’s general assessment of economic decline provides a correct picture of the economy; however, the bank’s earlier projected decline of 2.5 per cent for 2007 was on the conservative side. The latest estimate of GDP for 2007 is a decline in excess of 4 per cent. The purpose of this article is not, however, to indulge in debate about these projections but to concentrate on a very important subject: the rule of law and the economy. This is an important institutional issue that has been given only low levels of attention and has been ignored by governments since that fateful year of 1987 when the first military coup took place. The rule of law and its relationship with economic performance has been a burning issue since 1987 and remains so to this day.

Item Type: Journal Article
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Business and Economics (FBE) > School of Economics
Depositing User: Ms Neha Harakh
Date Deposited: 15 Nov 2008 22:03
Last Modified: 15 May 2012 09:41

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