The papers contained in this volume were prepared for a conference on problems and policies in small economies, held at Marlborough House in June, 1981. The conference was attended by 21 distinguished development economists representing a mix of geographical, professional and occupational experience, and by staff members of the (Commonwealth) Secretariat....
The papers printed here cover many issues; they range from papers on conceptual and theoretical issues to issues of practical interest and application. Naturally they do not attempt to cover the field. I hope that these papers will be of interest to all those who are concerned with the economic problems and policies in small economies....
Shridath S Ramphal
Review - Reproduced from the book's back page
Economists are realising increasingly that small economies face special problems and that special strategies are needed to assist their development. This is an important problem since as many as 100 of the world's countries - over half - have populations of 5 million or less. Small economies have special difficulties with foreign trade and often require different industrial or agricultural development strategies from what would be appropriate in larger economies. Some small economies rely to an inordinate extent on tourism or their service sector, whilst others, particularly islands, suffer from the relatively high costs of transportation.
This book, which brings together work by a leading group of experts from around the world, analyses in detail the various problems which small economies face, and puts forward suggestions as to how economic planners should go about tackling the problems.