Description
This unique annual collection of key economic and statistical data on the world’s small states – those with fewer than five million inhabitants – is an essential reference for economists, planners and policy-makers.
The book contains fifty-four tables covering selected economic and social indicators culled from international and national sources and presents information unavailable elsewhere. A detailed parallel commentary on trends in Commonwealth small states, looking at growth, employment, inflation and economic policy issues, permits a deeper understanding of developments behind the figures.
The book also includes two topical articles, on the dynamics of growth and macroeconomic fluctuations of small states, by Dr Gordon Cordina of the University of Malta, and the crucial role of energy efficiency and renewable energy in small island developing states, by David Barrett.
Please note that a more recent volume in this series is now available.
Contents
Foreword
List of Abbreviations and Acronyms
PART I: RECENT ECONOMIC TRENDS IN COMMONWEALTH SMALL STATES
1. Recent Economic Trends in Commonwealth Small States
Introduction
Economic Environment
Overall Growth Trends
Sources of Growth
Inflation
Employment
External Performance
International Trade Relations
Current Account Balances
Inflows to Small States
Public Debt
International Reserves
Human Development Trends
Key Policy Issues
Conclusion
2. The Macroeconomic and Global Dynamics of Small States
Gordon Cordina
Introduction
Measures of Economic Size
Data Issues
Smallness and Vulnerability
Major Vulnerability Indices
Vulnerability, Population Size and Insularity
Economic Vulnerability and Economic Growth: The Supply Side of the Economy
Economic Vulnerability and Macroeconomic Fluctuations: Aggregate Demand
Conclusion
3. Renewable Energy and Energy Efficiency
David Barrett
Introduction
Driving Force for Implementing Non-Conventional Energy Options
Energy Status of SIDS
Energy Efficiency and Conservation – The First Line of Defence
Renewable Energy Technologies
Barriers to Implementation
Energy Policy Support
The Need for a Dedicated and Empowered Champion
Absence of Appropriate Financing and the Use of Traditional Accounting Methods
Inadequate Expertise for Resource Mobilisation
Cross-sectoral Initiatives
Public Education and Public Awareness
Influence of Utility Companies
Competition for Scare Resources
Scale
Other Factors
Conclusion
<span lang="EN-U