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The specific role of agriculture for economic vulnerability of small island spaces

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  • Stéphane Blancard
  • Maximin Bonnet
  • Jean-François Hoarau

Abstract

Small Island Spaces are confronted to large handicaps resulting in a situation of strong economic vulnerability. The recent food crises revealed that the dependency to imported food is more determinant for structural vulnerability than the weight of agriculture in the economy. We suggest a new structural vulnerability indicator by substituting into the well-known EVI the share of agriculture in GDP by a proxy of imported food dependency. For robustness considerations, this new indicator is obtained from an endogenous weighting system. Our simulations point out that taking into account food dependency strengthens dramatically the exposure of small island economies to structural vulnerability.
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  • Stéphane Blancard & Maximin Bonnet & Jean-François Hoarau, 2020. "The specific role of agriculture for economic vulnerability of small island spaces," TEPP Working Paper 2020-01, TEPP.
  • Handle: RePEc:tep:teppwp:wp20-01
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