This book is an outcome of the research undertaken as a result of the growing collaboration between the Commonwealth Secretariat and the Islands and the Small States Institute of the University of Malta.
The main message of the book is that appropriate macroeconomic and microeconomic policies can, to an extent, mitigate the drawbacks of economic vulnerability. Several chapters in the book make the distinction between inherent and self-inflicted vulnerability. There is an attempt to clarify terms by associating vulnerability with inherent features such as economic exposure and export concentration, and resilience with man-made policies, including good governance. While it is important for small states to recognise and come to terms with inherent and permanent development handicaps, arising from small economic size, it is equally important that these countries adopt policy mesures which enable them to build their resilience to improve the standard of living of their population.
This title covers 14 chapters, with an introduction by the editors and contributions by various authors.
Published by the Islands and Small States Institute, Malta and the Commonwealth Secretariat.
Foreword Indrajit Coomaraswamy
1. Introduction Lino Briguglio, Gordon Cordina and Eliawony J. Kisanga
Part 1. Economic Resilience and Economic Policy
2. Macroeconomic Reform and Resilience Building in Small States T.K. Jayaraman
3. Developing Resilience through Labour Mobility in Microstates Satish Chand
4. Economic Resilience with an Exchange Rate Peg: The Barbados Experience Delisle Worrell, Harold Codrington, Roland Craigwell and Kevin Greenidge
5. Financial Globalisation and Economic Resilience in Mauritius Kheswar C. Jankee
6. Market Reform and Resilience Building in Small Developing Countries Andrew S. Downes
7. Determinants of Economic Growth and Resilience in Small States Harvey W. Armstrong and Robert Read
Part 2: Social, Political and Environmental Aspects of Resilience Building
8. Economic Resilience Building and Good Governance Mahendra Reddy
9. Assessing the Fragility of Small Island Developing States David Carment, Stewart Prest and Yiagadeesen Samy
10. Economic Resilience and Social Cohesion: The Case of the Small Island States in the Southern Caribbean Cletus Springer
11. Small States as Holons: The Transnational Survival Kit of Small Jurisdictions Godfrey Baldacchino
12. Building Resilience through Better Environmental Management of Small Island States: Experience from the AIMS Small Island States John L. Roberts
13. Small Island Developing States, Exclusive Economic Zones and Economic Resilience Building Tishka H. Fraser and Espen Ronneberg
Part 3: Towards the Development of an Economic Resilience Index
14. Conceptualising and Measuring Economic Resilience Lino Briguglio, Gordon Cordina, Nadia Farrugia and Stephanie Vella