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Paper discussing economic management in the Cook Islands, Kiribati, Tuvalu and New Caledonia, arguing that the economies are not doing well, and that governments need to start taking tougher policy options. Includes economic statistics for each country and references. The author is director of the Islands/Australia program at the Research School of Pacific and Asian Studies, ANU.
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.
This sixth annual study focuses on the effects of globalization on developing countries and the growing divide between fast and slow- integrating economies. It describes current trends in integration and answers key questions on trade and on commodity-reliant economies. The book examines two questions in particular detail: Will trade liberalization work? The report argues that countries that embark on trade liberalization in the current environment are likely to be rewarded and recognizes that genuine adjustment costs exist and that complementary reforms are important. How can commodity-reliant countries enhance productivity and diversify exports? Although many of these countries have been among the high growth, fast integrators, many others have been poor performers. Successful exporters are characterized by high productivity in existing commodity sectors, the capacity to diversify to non-traditional commodity exports, and the maintenance of economic stability. The report projects continued rapid acceleration of integration over the next decade, with moderate import growth in the developed countries and continued sharp import increases in developing countries. Those countries that continue to reform their economies and expand their participation in the world economy will be in a position to take advantage of the resulting opportunities; those that do not, risk falling further behind.
This is a prepublication excerpt of Resilience and Growth in the Small States of the Pacific.
The Pacific island region has considerable potential for development, especially in the areas of tourism, fisheries, forestry, mining, and agriculture. However, these countries face many challenges to developing their economies and raising living standards, including their small size, distance from major markets, and vulnerability to natural disasters. The first half of this book provides an assessment of regional issues. The second half includes country-specific chapters, which provide an overview of each countries economic performance since independence and the main challenges ahead.
Pacific Island Countries have been shown to be especially vulnerable to such external influences as natural disasters, political unrest and downturns in the global economy and their tourism industries have been notably affected. In particular, they typically have a narrow resource base and a fragile and often vulnerable natural environment. While there is some research on islands and small states, there is a dearth of information on the South Pacific and very little research is being undertaken in the region compared to other geographical regions in the world. This volume brings together current work in Pacific Island tourism. In this collection, three main themes arise: Images of the South Pacific; Socio-economic Impacts of Tourism; and Pacific Island Countries and the Outside World. The first focus is on the question of image, namely, stereotypes of a destination held by tourists and potential tourists, the extent to which residents, for their part, really welcome visitors, and the role tourism might play in changing pre-established images. The second theme is tourism's impacts, notably the economic and socio-cultural effects of international tourism's intrusion in the region which, though often hotly debated, have attracted relatively little empirical research. The third focus is on the challenges of how PICs articulate with their external geo-political and physical environment. These involve existing relations with formal colonial centres, geographical isolation, the need for greater air access to the outside world and for more tourists, and the continuing threat to several PICs of global warming, which increased air travel will inevitably exacerbate. This text will be of interest to tourism students, researchers and academics in the fields of tourism, development studies and cultural studies.