Gounder, Aruna (2022) Lessons for developing social security schemes for small island economies of the pacific region and beyond: some useful insights from Fiji's COVID-19 experience. Pacific Affairs: An International Review of Asia and the Pacific, 95 (1). pp. 2-28. ISSN 0030-851X
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COVID-19 has triggered deep economic damages and devastated livelihoods to an extent never experienced before. It has revealed several socio-economic vulnerabilities and can be used as a learning platform to prepare for future shocks. In particular, it has exposed the vulnerability of households to sudden, severe, and prolonged income shock, the significance of social security as a shock response tool, and the importance of household resilience for macroeconomic stability. This study uses the pandemic as an opportunity to understand the resilience of Fijian households to profound and prolonged income shocks, given their social, cultural, and economic setting. It evaluates the national response strategies, household coping mechanisms and the gaps in the current social security measures. The evaluation reveals several key lessons for a systematic response to any future shocks. The lessons are beneficial not only for Fiji but also for other similar economies in the region. Policymakers can build on the operational learning and capacity developed during the pandemic, reinforce the existing social security system and be better prepared for future income shocks. Fiji and other Pacific Island economies are highly vulnerable to climate related risks and have endured the adverse economic effects of some extremely intense natural disasters. It is important for these economies to strengthen household resilience and develop sustainable and broad based programs to social protection.
| Item Type: | Journal Article |
|---|---|
| Subjects: | H Social Sciences > HA Statistics H Social Sciences > HB Economic Theory |
| Divisions: | School of Accounting, Finance and Economics (SAFE) |
| Depositing User: | Aruna Gounder |
| Date Deposited: | 28 Feb 2022 23:24 |
| Last Modified: | 05 Dec 2022 02:58 |
| URI: | https://repository.usp.ac.fj/id/eprint/13190 |
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