Cover IMF Working Papers
The Pacific Speed of Growth: How Fast Can It Be and What Determines It?
Author:
Yongzheng Yangnull

Search for other papers by Yongzheng Yang in
Current site
Google Scholar
PubMedClose
,
Hong Chennull

Search for other papers by Hong Chen in
Current site
Google Scholar
PubMedClose
,
Shiu raj Singh
Search for other papers by Shiu raj Singh in
Current site
Google Scholar
PubMedClose
, and
Baljeet Singhnull

Search for other papers by Baljeet Singh in
Current site
Google Scholar
PubMedClose
Series:
IMF Working Papers
Volume/Issue:
Volume 2013: Issue 104
Language:
English
Publication Date:
09 May 2013
DOI:
https://doi.org/10.5089/9781484399040.001
ISBN:
9781484399040
ISSN:
1018-5941
Pages:
44
Keywords:
WP; financial crisis; PIC economy; economic recovery; PIC government; small states; Pacific island countries; growth; convergence; remoteness; volatility; aid; investment exports; trade pattern; growth rebound; growth performance; PIC growth rebound; PIC export; visitor arrival; Exports; Transportation; Real exchange rates; Imports; Competition; Global; Australia and New Zealand; Pacific Islands; Asia and Pacific
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
Download PDF (4.9 MB) Download Epub
This study aims to test within a relatively homogeneous group of small states what differentiates the growth performance of Pacific island countries (PICs) from their peers. We find that PICs are disadvantaged by distance and hampered by lower investment and exports compared with other small island states, but greater political stability, catch-up effects from lower initial incomes, and slower population growth have helped offset some of these disadvantages. On balance, policy-related factors, together with geography-related disadvantages, have led to growth rates in PICs that are much lower than in other small states. We also examine how real exchange rate appreciation, unfavorable developments in the external trade environment, and rising international transport costs may have contributed to PICs’ slower growth over the past decade.
  • Collapse
  • Expand
Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund
Volume 2013: Issue 104