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

Yang, Y. and Chen, H. and Singh, S.R. and Singh, Baljeet (2016) The Pacific speed of growth: how fast can it be and what determines it? In: Resilience and growth in the small states of the Pacific. International Monetary Fund, Washington, pp. 45-70. ISBN 9781513507521

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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:	Book Chapter
Additional Information:	This paper was first published in 2013 as a working paper.
Subjects:	H Social Sciences > HD Industries. Land use. Labor
Divisions:	Faculty of Business and Economics (FBE) > School of Economics
Depositing User:	Ms Shalni Sanjana
Date Deposited:	19 Aug 2016 03:54
Last Modified:	26 Sep 2016 23:44
URI:	https://repository.usp.ac.fj/id/eprint/9181

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