Export performance, governance, and economic growth: evidence from Fiji - a small and vulnerable economy

Chand, Ronal; Singh, Rup; Patel, Arvind; Jain, Dipika

doi:10.1080/23322039.2020.1802808

Cited by 12 publications

(5 citation statements)

References 38 publications

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“…All the prior findings confirm that exports, international flows, governance as well as physical and human capital, FDI, private investment, and policy environment are also important sources of growth and are extremely important factors for improving SIDS economic performance and growth [38].…”

Section: Literature Reviewmentioning

confidence: 69%

“…Congdon Fors [37] stated that country size is negatively related to institutional quality. Regardless of all the above approaches, historical discussions about the development issues of SIDSs have stated that the core of the hardships of these countries is a consequence of these countries' fragile economic potentials as a result of their limited and scarce resource base and restricted small populations [38].…”

Section: Literature Reviewmentioning

confidence: 99%

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Cape Verde: Islands of Vulnerability or Resilience? A Transition from a MIRAB Model into a TOURAB One?

Sarmento,

da Silva

2024

Tourism and Hospitality

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Small island developing states (SIDSs) traditionally face a set of challenges like the weak and highly fragile economic configuration, environmental issues, and a traditional dependence on a few economic activities forcing them to open the economy to the exterior. Therefore, their development model, like in Cape Verde, depends on migration, remittances, dependence on aid, tourism, and state employment. The current research offers an insight into the nature of Cape Verde’s economy as a SIDS economy and the degree to which the country has been relying on tourism receipts, external remittances from migrations, aid programs, and government services. Understanding Cape Verde’s development model is important to clarify the challenges the country faces and its development needs to gather a long-term resilience and to understand if it is changing from a MIRAB (Migrations, Remittances, Aid, and Bureaucracy) model into another one.

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Section: Literature Reviewmentioning

confidence: 69%

Section: Literature Reviewmentioning

confidence: 99%

Cape Verde: Islands of Vulnerability or Resilience? A Transition from a MIRAB Model into a TOURAB One?

Sarmento,

da Silva

2024

Tourism and Hospitality

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“…3 Other concerns include a strong reliance on foreign aid and grants, as well as remittances, foreign direct investment, trading capacity limits, a lack of necessary resources and technology, and governance issues. (Chand et al, 2020). They are also highly vulnerable to natural disasters.…”

Section: Aspects Of Fiji Economymentioning

confidence: 99%

Foreign exchange market asymmetries in Pacific small island developing states: Evidence from Fiji

et al. 2022

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After abandoning Bretton Wood, the foreign exchange market has been dominated by three types of economies: export‐oriented economies (China and other Asian countries), commodity economies (Australia, New Zealand, Canada, and oil exporting nations) and reserve‐currency economies (US, EU, UK, and Swiss). As a result, the asymmetric development of the foreign exchange market has reduced the monetary and fiscal space for PSIDS, which face structural challenges such as a low population base, import dependence, aid dependency, climate risk, and political uncertainty. The ‘Exchange Market Pressure Index’ (EMPI) for Fiji is developed in this article to quantify the pressure on the exchange rate and monetary authorities' responses to micromanaging balance sheet impacts. The calculated EMPI accurately reflects four instances of financial distress in Fiji, including significant exchange market pressure in response to growing trade deficits and external debt, the global financial crisis's contagion effect, and political uncertainty. Our EMP Index's robustness is attributed in part to the employment of a dynamic time series estimate method, a time‐varying weighing scheme, and a high‐frequency monthly dataset.

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“…Fiji operates under the pegged exchange rate system and uses exchange rate policy to enhance export competitiveness and manage domestic inflation. A global event such as trade tensions between major economies, debt, and financial crises as well as oil or food price hikes have inversely affected Fiji's trade, Chand et al (2020). The recent outbreak of COVID-19 has greatly impacted the trade flow and labour mobility, and these continue to depress productive capacity, requiring measures to protect local industries.…”

Section: Trade Strategy Of Fijimentioning

confidence: 99%

Determinants of Exports in a Small and Vulnerable Economy: Fiji Islands—A Disaggregated Analysis

et al. 2022

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The previous studies of exports performance in Fiji were carried out at the aggregate level. We conduct a disaggregated analysis of exports of three major products, namely, sugar, tourism, and gold. This analysis is useful for developing sector-based export promotion policies. The long run as well as dynamic export demand functions are estimated at the aggregate and disaggregate levels. The results identify a number of factors such as trading partner income, relative prices, productivity shocks, natural disasters, political disturbances, and the exchange rate that affect the export demand for sugar, tourism, and gold, though not in the same way. For instance, tourism and sugar enjoy the highest income elasticity. Sugar export is adversely affected by natural calamities and political upheavals. The political upheavals also affect tourism adversely in Fiji. The exchange rate affects the export of sugar more than others. The idea that devaluation will promote exports in Fiji needs careful investigation because results show that this will happen with a high cost, i.e. 5% nominal devaluation will be required to increase real exports by 1%.

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Export performance, governance, and economic growth: evidence from Fiji - a small and vulnerable economy

Cited by 12 publications

References 38 publications

Cape Verde: Islands of Vulnerability or Resilience? A Transition from a MIRAB Model into a TOURAB One?

Cape Verde: Islands of Vulnerability or Resilience? A Transition from a MIRAB Model into a TOURAB One?

Foreign exchange market asymmetries in Pacific small island developing states: Evidence from Fiji

Determinants of Exports in a Small and Vulnerable Economy: Fiji Islands—A Disaggregated Analysis

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