The Fiji economy, May 1987: problems and prospects
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Cole, Rodney V
Hughes, Helen, 1928-2013
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Canberra, ACT : National Centre for Development Studies, Research School of Pacific Studies, The Australian National University.
Abstract
On 14 May 1987 a group of Fijian soldiers led by Colonel Rabuka
entered the House of Representatives and escorted the Prime
Minister, the Leader of the Labour Coalition Government and his
Cabinet colleagues out of the House. The ensuing events had
profound effects on Fiji's small economy. The fall in tourist
traffic, flight of skilled manpower and capital, and a loss of
confidence in the modern sector of the economy led to a currency
devaluation of 33 per cent. In 1987 Fiji's GDP fell 11 per cent and
it is likely to fall more in 1988.
Wages, employment and services have been severely cut with a
concomitant effect on income, savings and social stability.
Fiji's economic growth since the mid 1970s had been slow. This
has to bear some of the responsibility for the turmoil of 1987. This
book analyzes the economic background of the coup, its economic
effects and explores the longer term economic growth
possibilities open to the Interim government and subsequent Fiji
governments. Without such growth, stability is unlikely to
return to Fiji.
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