SMALL ISLAND ECONOMIES: CARIBBEAN VERSUS PACIFIC

Jerome L. McElroy · Kimberly J. Medek

10 citations0/0 files storedOAR@UM (University of Malta)

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Island Studies and Pacific Affairs Economic Growth and Productivity Caribbean history, culture, and politics

Abstract

After a review of the small island economy literature, this study compares the average performance of 16 Caribbean versus 15 mainly Pacific islands with three from the Indian Ocean. Mean difference analysis is employed across 22 socio-economic and demographic variables. Results confirm previous research. The Caribbean outperforms the Pacific with higher per capita GDP and life expectancy and lower infant mortality and fertility. Different migration experiences discriminate the more dynamic Caribbean characterized by heavy immigration from the relatively stagnant Pacific marked by chronic emigration. The three determinants offered to account for these differences involve significant Caribbean advantages: geographic proximity to the major global markets, early post-war development of international tourism and offshore banking, and a longer and more intense period of colonisation that early on established basic infrastructure and market institutions.

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References

2012The Colonial Origins of Comparative Development: An Empirical Investigation: Reply 2009Economic Vulnerability and Resilience: Concepts and Measurements 2000Small States, Small Problems? Income, Growth, and Volatility in Small States 2006Small island tourist economies across the life cycle 2000Migration and remittances in island microstates: a comparative perspective on the South Pacific and the Caribbean 2009Climate change and small island developing states: a critical review.2006Managing the hinterland beyond: Two ideal-type strategies of economic development for small island territories 2010Island Enclaves: Offshoring Strategies, Creative Governance, and Subnational Island Jurisdictions

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