Unravelling the Pacific Paradox
The performance of the Pacific Island countries (PICs) over the past two decades has been characterized by economic growth rates that are low on average yet extremely volatile. This has been so despite favorable levels of natural and human resources, high levels of public investment and aid, and reasonably prudent economic management – a phenomenon that has been labeled the “Pacific Paradox”. Questions may be posed therefore as to what accounts for this poor performance of the PICs, especially...[Show more]
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