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Trouble in Paradise? Savings and Growth in Fiji, 1970-2001

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  • A. Haroon Akram-Lodhi
  • Ardeshir Sepehri

Abstract

This article reviews Fiji's macroeconomic performance and assesses the relative significance of foreign exchange, domestic savings and public sector resources on Fiji's economic growth by formulating and estimating a three-gap model. The foreign exchange gap equation indicates a sharp tradeoff between investment and capacity utilization. The government savings constraint also appears to be binding. The model is then simulated for the period between 1997 and 2001 underfourgrowth path 'scenarios' that make differing assumptions concerning Fiji's output, exports and capital flows. The results suggest that the external financing required to achieve a 'socially desirable' growth path is modest, amounting to an average of 3.5 per cent of potential output.

Suggested Citation

  • A. Haroon Akram-Lodhi & Ardeshir Sepehri, 2001. "Trouble in Paradise? Savings and Growth in Fiji, 1970-2001," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 6(3), pages 360-385.
    • Handle: RePEc:taf:rjapxx:v:6:y:2001:i:3:p:360-385
    DOI: 10.1080/13547860120097395
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    References listed on IDEAS

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    1. Paul Collier, 1998. "The political economy of ethnicity," CSAE Working Paper Series 1998-08, Centre for the Study of African Economies, University of Oxford.
    2. Paul Collier, 1998. "The political economy of ethnicity," Economics Series Working Papers WPS/1998-08, University of Oxford, Department of Economics.
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