The Isolated Islands

Joe Atikian

Chapter 7 in Industrial Shift: The Structure of the New World Economy, 2013, pp 81-89 from Palgrave Macmillan

Abstract: Abstract Small island nations offer the sort of natural experiment that economists prize. The Caribbean and Oceania are presumed to be subject to high prices and heavily reliant on trade. The structure of small island trading economies might be expected to increasingly resemble their closest and largest neighbors. Instead, they closely resemble countries with the deepest cultural connection. Their industrial structure is related to the Gravity Theory of trade. A comparison of Cuba and Australia shows how totally different political systems do not distort the relation of agriculture to wealth.

Keywords: Gravity theory of trade; isolated islands; trade theory (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-34031-3_7

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DOI: 10.1057/9781137340313_7

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