Small States in a Global Economy: the Role of Institutions in Managing Vulnerability and Opportunity in Small Developing Countries

Deborah Brautigam and Michael Woolcock

No DP2001-37, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: Small states have always been more vulnerable in the global economy. This is so because trade comprises a larger proportion of their economic activity, and because they lack the power to set the terms or make any of the rules that govern globalization. Studies of small states tend to focus on the nature of their vulnerabilities, without considering that these countries have managed external pressures in different ways.

Keywords: Econometric models (Economic development); Globalization; International economic relations (search for similar items in EconPapers)
Date: 2001
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