Macroeconomic Policies for Growth in Small Pacific Island Economies

Anis Chowdhury and Yogi Vidyattama

No RP2007-24, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: This paper examines macroeconomic performance and policies in small Pacific island economies (SPIEs). These economies are highly prone to various supply shocks and face severe obstacles to development arising from their geography and demography. However, the paper contends that their lacklustre growth performance over the last two decades has also been due to excessively conservative macroeconomic policies. That is, a confluence of supply shocks and policy-induced constrained demand has resulted in poor economic performance.

Keywords: Economic development; Fiscal policy; Human capital; Macroeconomics; Supply and demand (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:unu:wpaper:rp2007-24

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