Getting the institutional environment right for investment and growth in the Pacific

Abstract

Operating on the premise that effective institutions are crucial for optimal economic performance, the study explores the following questions: which institutions are necessary for high-quality growth and development, and what form should they take? How are these institutions acquired? What is the optimal sequence for implementing institutional reforms? The resolution of these issues is important for a better understanding of the role of institutions in the growth process in the Pacific island countries, and for the formulation of strategies for implementing growth-oriented institutional reforms and/or innovations.