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Growth Oriented Macroeconomic Policies for Small Islands Economies: Lessons from Singapore

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  • Patrick Guillaumont
  • Catherine Korachais
  • Julie Subervie

Abstract

Most small island economies or 'microstates' have distinctly different characteristics from larger developing economies. They are more open and vulnerable to external and environmental shocks, resulting in high output volatility. Most of them also suffer from locational disadvantages. Although a few small island economies have succeeded in generating sustained rapid growth and reducing poverty, most have dismal growth performance, resulting in high unemployment and poverty.

Suggested Citation

  • Patrick Guillaumont & Catherine Korachais & Julie Subervie, 2008. "Growth Oriented Macroeconomic Policies for Small Islands Economies: Lessons from Singapore," WIDER Working Paper Series RP2008-47, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:rp2008-47
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    File URL: https://www.wider.unu.edu/sites/default/files/rp2008-47.pdf
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    Cited by:

    1. Jeffrey A Edwards & Alfredo A. Romero, 2020. "Volatility, island nations and small states," Economics and Business Letters, Oviedo University Press, vol. 9(3), pages 248-254.

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    Keywords

    Economic development; Economic surveys; Fiscal policy; Monetary policy; Policy sciences;
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