Macroeconomic policies for growth in small Pacific island economies

Abstract

This paper examines the macroeconomic performance of the Pacific island countries. It includes analyses of economic growth, inflation and balances of payment, and the possible contributions of fiscal, monetary and exchange rate policies. Wherever possible, comparisons are made with small island economies in other regions, such as in the Caribbean. Finally, the paper provides a general framework for macroeconomic policies as part of a state-led development strategy. Show more