 Size and Economic Development: The Case of a Small Island EconomyRodney Wilson
Chapter 1 in Cyprus and the International Economy, 1992, pp 1-13 from Palgrave Macmillan Abstract: Abstract The question of country size and economic viability has received some attention from development economists, especially in the 1960s, the decade after so many small nations had become independent political entities. Many doubted whether so called mini states could ever be economically viable. Much of the literature was concerned with issues of economies of scale, and the limited externalities possible with narrow resource bases.1 Small size was thought to imply low domestic economic multipliers, with injections of government spending merely stimulating imports, hence undermining the efficiency of any fiscal stimulus. Even export-led growth would not prove possible, as export revenues feed back into imports, not indigenous economic activity. At the same time small economies which were very specialised were thought to be vulnerable to exogenous shocks and likely to suffer from export earnings instability.2 Keywords: Fiscal Stimulus; Domestic Manufacturing; Offshore Banking; Independent Retailer; Modem Sector (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-12186-1_1 Ordering information: This item can be ordered from DOI: 10.1007/978-1-349-12186-1_1 Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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