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Innovative Policy Reforms for Sustainable Development: Empirical Evidence from PICs

Author

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  • Amaradasa Dr Ranasinghe M.W.

    (The University of Fiji, Fiji Islands)

Abstract

The science and technology capabilities inculcate economic growth in a country through various processes engaged with absorption and utilization of existing knowledge, and creation of new knowledge. The Pacific Island Countries consisted of many small developing island nations naturally have limited S&T capabilities and narrow development agenda. The present study explores how different island nations in the Pacific configure themselves and design development initiatives in the global economy. Recent policy initiatives, S&T establishments and innovative approaches in PICs are visited to derive reasonable conclusive remarks. The analysis disclose existence of focussed but partially fragmented move towards sustainable development rather than driving the economy for generating a competitive edge in the business world. The fabric of the economic growth in small developing nations is naturally blended with the social and cultural interests and hence innovations across specific segments of economic sectors are chosen based on their capabilities and access to resources. Hence, the evidence reimpose that fact that the small developing nations, in particularly the PICs, select the path of development to generate the competitive advantage in the global market, while emphasizing sustainability as a priority.

Suggested Citation

  • Amaradasa Dr Ranasinghe M.W., 2018. "Innovative Policy Reforms for Sustainable Development: Empirical Evidence from PICs," Economics, Sciendo, vol. 6(2), pages 79-85, December.
    • Handle: RePEc:vrs:econom:v:6:y:2018:i:2:p:79-85:n:8
    DOI: 10.2478/eoik-2018-0027
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    References listed on IDEAS

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    1. Jane Thomason & Matthew Hancock, 2011. "PNG mineral boom: Harnessing the extractive sector to deliver better health outcomes," Development Policy Centre Discussion Papers 1102, Development Policy Centre, Crawford School of Public Policy, The Australian National University.
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    More about this item

    Keywords

    sustainable development; Pacific Island Countries; Innovations in small developing nations;
    All these keywords.

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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