Beyond MIRAB: Do aid and remittances crowd out export growth in Pacific microeconomies?
The 1980s investigations of post-colonial Polynesian and Micronesian economies emphasised the role of aid, remittances and other rent incomes as 'booming sectors'which 'crowded out'export-driven growth. Contrary to orthodox theory-based models at that time being embraced by the World Bank and International Monetary Fund (emphasising liberalisation and primary product export-oriented economic growth), Bertram and Watters instead highlighted long-run trade deficits and onshore government budget...[Show more]
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|Source:||Asia Pacific Viewpoint|
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