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Swimming Against the Tide

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  • Holden, Paul
  • Holden, Sarah
  • Malcolm, Bale

Abstract

An Analysis of Private Sector Development Issues in Small Economies This book examines the underlying factors that determine the environment for investment and growth in small economies, focussing on those in the Pacific.The private sector can flourish and create employment opportunities only if the environment in which it operates is conducive to business. Governments can often create an environment that increases the costs of doing business, reduces profits, and discourages dynamism and entrepreneurship. These issues include • fostering financial sector development for credit to be more readily available for business; • clarifying land rights and modifying them with respect to cultural preservation and the development of land markets; • reducing the role of the state in the economies of the region; • revamping the regulatory regimes for the business environment to be less constrained and monopolies more prudently regulated; • focusing on the assistance of small-scale rural enterprises. With concerted efforts, governments can ensure the resolution of these critical issues. However, doing so requires considerable time and great effort. Nevertheless, now is a perfect time to start the process. Strategies for change should focus on what causes the low rates of return on capital as well as the constraints to business startup and development.

Suggested Citation

  • Holden, Paul & Holden, Sarah & Malcolm, Bale, 2004. "Swimming Against the Tide," MPRA Paper 4207, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:4207
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. International Monetary Fund, 2007. "Federated States of Micronesia: Selected Issues and Statistical Appendix," IMF Staff Country Reports 2007/105, International Monetary Fund.
    2. Vlad Pavlov & Craig Sugden, 2006. "Aid and Growth in the Pacific Islands," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 20(2), pages 38-55, November.
    3. Paul Holden & Alma Pekmezovic, 2020. "How accurate are the Doing Business indicators? A Pacific Island case study," Asia and the Pacific Policy Studies, Wiley Blackwell, vol. 7(3), pages 247-261, September.
    4. Mr. David William Harold Orsmond & Mr. Christopher Browne, 2006. "Pacific Island Countries: Possible Common Currency Arrangement," IMF Working Papers 2006/234, International Monetary Fund.
    5. Peter Biggs, 2007. "The financial sector in Papua New Guinea — A good case of reform," Economic Roundup, The Treasury, Australian Government, issue 3, pages 73-94, September.

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    More about this item

    Keywords

    private sector development; institutional economics;

    JEL classification:

    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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