Excerpt: Resilience and Growth in the Small States of the Pacific

Excerpt: Resilience and Growth in the Small States of the Pacific
Author: Hoe Ee Khor
Publisher: International Monetary Fund
Total Pages: 61
Release: 2016-04-07
Genre: Nature
ISBN: 1484319834

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This is a prepublication excerpt of Resilience and Growth in the Small States of the Pacific.

Resilience and Growth in the Small States of the Pacific

Resilience and Growth in the Small States of the Pacific
Author: Hoe Ee Khor
Publisher: International Monetary Fund
Total Pages: 462
Release: 2016-08-10
Genre: Business & Economics
ISBN: 1475522711

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Pacific island countries face unique challenges to realizing their growth potential and raising living standards. This book discusses ongoing challenges facing Pacific island countries and policy options to address them. Regional cooperation and solutions tailored to their unique challenges, as well as further integration with the Asia and Pacific region will each play a role. With concerted efforts, Pacific island countries can boost potential growth, increase resilience, and improve the welfare of their citizens.

Resilience and Growth in the Small States of the Pacific

Resilience and Growth in the Small States of the Pacific
Author: Hoe Ee Khor
Publisher: International Monetary Fund
Total Pages: 462
Release: 2016-08-10
Genre: Business & Economics
ISBN: 1513507524

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Pacific island countries face unique challenges to realizing their growth potential and raising living standards. This book discusses ongoing challenges facing Pacific island countries and policy options to address them. Regional cooperation and solutions tailored to their unique challenges, as well as further integration with the Asia and Pacific region will each play a role. With concerted efforts, Pacific island countries can boost potential growth, increase resilience, and improve the welfare of their citizens.

Asia and Pacific Small States - Raising Potential Growth and Enhancing Resilience to Shocks

Asia and Pacific Small States - Raising Potential Growth and Enhancing Resilience to Shocks
Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
Total Pages: 28
Release: 2013-02-20
Genre: Business & Economics
ISBN: 1498342280

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The small states of the Asia and Pacific region face unique challenges in raising their growth potential and living standards. These countries are particularly vulnerable because of their small populations, geographical isolation and dispersion, narrow export and production bases, lack of economies of scale, limited access to international capital markets, exposure to shocks (including climate change), and heavy reliance on aid. In providing public services, they face higher fixed government costs relative to other states because public services must be provided regardless of their small population size. Low access to credit by the private sector is an impediment to inclusive growth. Capacity constraints are another key challenge. The small states also face more limited policy tools. Five out of 13 countries do not have a central bank and the scope for diversifying their economies is narrow. Given their large development needs, fiscal policies have been, at times, pro-cyclical. Within the Asia-Pacific small states group, the micro states are subject to more vulnerability and macroeconomic volatility than the rest of the Asia-Pacific small states.

A Sustainable Future for Small States

A Sustainable Future for Small States
Author: Resina Katafono
Publisher: Commonwealth Secretariat
Total Pages: 437
Release: 2017-09-01
Genre: Business & Economics
ISBN: 1849291632

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A Sustainable Future for Small States: Pacific 2050 is part of the Commonwealth Secretariat’s regional strategic foresight programme that examines whether current development strategies set the region on a path to achieve sustainable development by 2050. The study analyses whether Commonwealth Pacific small states (Fiji, Kiribati, Nauru, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu and Vanuatu) will achieve the Sustainable Development Goals. It reviews critical areas that can serve as a catalyst for change in the region: governance (examining political governance, development effectiveness and co-ordination, and ocean governance); non-communicable diseases; information and communications technology and climate change (focussing on migration and climate change, and energy issues). In each of these areas, possible trajectories to 2050 are explored, gaps in the current policy responses are identified, and recommendations are offered to steer the region towards the Pacific Vision of ‘a region of peace, harmony, security, social inclusion, and prosperity, so that all Pacific people can lead free, healthy, and productive lives’.

Enhancing Macroeconomic Resilience to Natural Disasters and Climate Change in the Small States of the Pacific

Enhancing Macroeconomic Resilience to Natural Disasters and Climate Change in the Small States of the Pacific
Author: Ezequiel Cabezon
Publisher: International Monetary Fund
Total Pages: 37
Release: 2015-06-19
Genre: Nature
ISBN: 1513577077

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Natural disasters and climate change are interrelated macro-critical issues affecting all Pacific small states to varying degrees. In addition to their devastating human costs, these events damage growth prospects and worsen countries’ fiscal positions. This is the first cross-country IMF study assessing the impact of natural disasters on growth in the Pacific islands as a group. A panel VAR analysis suggests that, for damage and losses equivalent to 1 percent of GDP, growth drops by 0.7 percentage point in the year of the disaster. We also find that, during 1980-2014, trend growth was 0.7 percentage point lower than it would have been without natural disasters. The paper also discusses a multi-pillar framework to enhance resilience to natural disasters at the national, regional, and multilateral levels and the importance of enhancing countries’ risk-management capacities. It highlights how this approach can provide a more strategic and less ad hoc framework for strengthening both ex ante and ex post resilience and what role the IMF can play.

Are the Asia and Pacific Small States Different from Other Small States?

Are the Asia and Pacific Small States Different from Other Small States?
Author: Ms.Patrizia Tumbarello
Publisher: International Monetary Fund
Total Pages: 29
Release: 2013-05-22
Genre: Business & Economics
ISBN: 1484339193

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The small states of the Asia and Pacific region face unique challenges in raising their growth potential and living standards relative to other small states due to their small populations, geographical isolation and dispersion, narrow export and production bases, exposure to shocks, and heavy reliance on aid. Higher fixed government costs, low access to credit by the private sector, and capacity constraints are also key challenges. The econometric analysis confirms that the Pacific Island Countries (PICs) have underperformed relative to their peers over the last 20 years. Although these countries often face more limited policy tools, policies do matter and can further help build resilience and raise potential growth, as evidenced in the recent business cycle. The Asia and Pacific small states should continue rebuilding buffers and improve the composition of public spending in order to foster inclusive growth. Regional solutions should also continue to be pursued.

Building the Resilience of Small States

Building the Resilience of Small States
Author: Denny Lewis-Bynoe
Publisher: Commonwealth Secretariat
Total Pages: 255
Release: 2014-09-08
Genre: Business & Economics
ISBN: 1849291284

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Some small states enjoy relatively high GDP per capita –giving the impression of economic strength – when in reality these economies are fragile and disproportionately affected by adverse economic shocks, natural disasters and extreme weather events. The Commonwealth resilience framework has been developed to identify both the national policies required to build resilience and the areas in which regional and international development partners can provide support. This study refines and expands the framework to cover areas such as governance, environmental management and social development. It proposes policy measures for building resilience and ways in which the resilience framework for small states can be embedded in national planning to help stakeholders to agree priority areas for policy intervention.

Small States and the Pillars of Economic Resilience

Small States and the Pillars of Economic Resilience
Author: Lino Briguglio
Publisher: Commonwealth Secretariat
Total Pages: 464
Release: 2008
Genre: Business & Economics
ISBN:

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Small developing states tend to be inherently prone to exogenous shocks over which they can exercise very little control. In the main, such proneness emanates from the small states; structural trade openness and their very high dependence on a narrow range of exports. There are a number of small developing states that, in spite of their inherent economic vulnerability, manage to generate a relatively high GDP per capita when compared with other developing countries. This can be ascribed to economic resilience building associated with policy-induced measures that enable a country to recover from or adjust to the negative impacts of adverse exogenous shocks and to benefit from positive shocks. The main argument put forward in this book is that economic resilience can be built through appropriate policy interventions in four principal areas, namely macroeconomic stability, microeconomic market efficiency, good governance and social development. Published by the Islands and Small States Institute, Malta and the Commonwealth Secretariat.

Small Island Developing States

Small Island Developing States
Author: Stefano Moncada
Publisher: Springer Nature
Total Pages: 390
Release: 2021-10-19
Genre: Law
ISBN: 3030827747

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This book explores how vulnerable and resilient communities from SIDS are affected by climate change; proposes and, where possible, evaluates adaptation activities; identifies factors capable of enhancing or inhibiting SIDS people’s long-term ability to deal with climate change; and critiques the discourses, vocabularies, and constructions around SIDS dealing with climate change. The contributions, written by well-established scholars, as well as emerging authors and practitioners, in the field, include conceptual papers, coherent methodological approaches, and case studies from the communities based in the Caribbean Sea and the Indian, Atlantic, and Pacific Oceans. In their introduction, the editors contextualise the book within the current literature. They emphasise the importance of stronger links between climate change science and policy in SIDS, both to increase effectiveness of policy and also boost scholarly enquiry in the context of whose communities are often excluded by mainstream research. This book is timely and appropriate, given the recent commission by the Intergovernmental Panel on Climate Change (IPCC) of a Special Report that aims at addressing vulnerabilities, “especially in islands and coastal areas, as well as the adaptation and policy development opportunities” following the Paris Agreement. Coupled with this, there is also the need to support the policy community with further scientific evidence on climate change–related issues in SIDS, accompanying the first years of implementation of the United Nations Sustainable Development Goals.