Description
This handbook covers a wide spectrum of issues relating to small states. Chapters in the volume have been grouped under the three main themes of economic, social and environmental issues. The economics sections include chapters dealing with trade, finance and regulatory frameworks, while the social theme covers health, migration, population ageing, as well as overall social wellbeing. The environmental theme examines matters such as measuring environmental performance, natural disasters, the ocean economy, and the validity of the Sustainable Development Goals.
One major issue is the definition of small states. As this volume demonstrates, generally speaking, population is used to measure country size in the literature. However, it clearly emerges that there is no real consensus as to the population cut-off point that distinguishes small states from large ones. While the approaches taken by the authors vary, in all cases the chapters draw practical policy implications for small states. The book can therefore be considered as a wide-ranging depositary of information on small states with the aim of deriving policy prescriptions, and thus as an excellent resource for academics, students and policymakers.
Table of Contents
Introduction
Lino Briguglio
Part I: Trade
1 Opportunities and Challenges for Small Economies in Global Value Chains
Rainer Lanz and Hans-Peter Werner
2 Trade Openness, Volatility and Governance
Lino Briguglio and Melchior Vella
3 Trade, Fiscal and Welfare Considerations of the CARIFORUM-EU Economic Partnership Agreement: A CARICOM Perspective
Roger Hosein, Rebecca Gookool and Troy Lorde
4 Structural Reform and Growth: What Really Matters? Evidence from the Caribbean
Kevin Greenidge, Meredith Arnold McIntyre, and Hanlei Yun
5 The Export of Higher Education services from Small Island Developing States: the Caribbean Potential
Richard L. Bernal
Part II: Finance
6 Do Small States Need Large External Buffers? Evidence from an Event-study analysis
Valerio Crispolti
7 Challenges in Correspondent Banking in the Small States of the Pacific
Jihad Alwazir, Fazurin Jamaludin, Dongyeol Lee, Niamh Sheridan, and Patrizia Tumbarello
8 Anchoring the Exchange Rate in the Small Open Economy: Why and How?
DeLisle Worrell, Winston Moore and Jamila Beckles
9 The Role of Excess Liquid Assets in Monetary Policy of Small Open Developing Economies
Tarron Khemraj
10 The Evolution of Stock Markets in the CARICOM Region (1969 – 2010): Lessons for other Emerging Small Economies
John Gerard Cozier and Patrick Kent Watson
11 Monetary Transmission Mechanisms in Selected Small Island Developing States with Floating Exchange Rates
Wendell Samuel and Arina Viseth
Part III: Aid and Foreign Direct Investment
12 Improving Aid Allocation for Small Developing States
Patrick Guillaumont, Vincent Nossek and Laurent Wagner
13 Dutch Disease and the Pacific Island Countries
T. K. Jayaraman and Evan Lau
14 The Determinants and Growth Effects of Foreign Direct Investment in Small Economies
Robert Read
Part IV: Regulatory Issues
15 When International ‘Best Practice’ is Not: Power Sector Reform in Small Island States
Matthew Dornan
16 Regulatory Frameworks in Small States – with Special Reference to Telecommunications
Omar Dhaher
17 Small States and Regional Competition and Consumer Law Agreements: Some Key Features, Lessons and Experiences
George R. Barker
Part V: Social Issues
18 Behavioural Economics and Small States: A Focus on Social Preferences
Marie Briguglio and Jonathan Spiteri
19 Small is Beautiful: Country Size and National Wellbeing in Small Economies
Robert Read
20 The Effects of Skilled Emigration on Small Island Nations
Satish Chand
21 The Effect of Brain Drain on Productivity Growth in Small States
Maurice Schiff and Yanling Wang
22 Smallness Compared: On Democracy and Modernization
Dag Anckar
23 Challenges and Opportunities for the Health Sector in Small States
Natasha Azzopardi Muscat and Carl Camilleri
24 Demographic Transition and Population Ageing in Small States
Philip von Brockdorff and Melchior Vella
Part VI: Environmental Issues
25 Environmental Economics: Special considerations for Small States
Stefano Moncada, Jonathan Spiteri and Marie Briguglio
26 Small Island Developing States and Sustainable Development Goals: Curse or Cure
John Laing Roberts
27 Small Island Developing States and the Ocean Economy: Widening the Development Frontier
Bonapas Francis Onguglo, and David Vivas Eugui
28 The Fiscal Consequences of Natural Disasters: Does Country Size Matter?
Reginald Darius, Travis Mitchell, Sanjana Zaman and Charumathi Raja
29 Natural Disasters and Tourism-led Economic Growth: A Case Study of Fiji: 1980-2014
T. K. Jayaraman, Chee Keong Choong, Cheong Fatt Ng and Markand Bhatt