Patterns of economic growth and structural transformation in the least developed and Pacific island countries of the ESCAP region: Implications for development policy and planning for the 1990s

2018 ◽  
Keyword(s):  
Economic Growth ◽  
Structural Transformation ◽  
Development Policy ◽  
Pacific Island ◽  
Pacific Island Countries ◽  
Policy And Planning

scholarly journals Role of Financial Sector Development as a Contingent Factor in the Remittances and Growth Nexus: A Panel Study of Pacific Island Countries

2018 ◽  
Vol 3 (1) ◽  
pp. 51-74 ◽  
Author(s):  
Tiru K. Jayaraman ◽  
Lin Sea Lau ◽  
Cheong Fatt Ng
Keyword(s):  
Economic Growth ◽  
Technical Assistance ◽  
Panel Study ◽  
Financial Sector ◽  
Institution Building ◽  
Pacific Island ◽  
Domestic Investment ◽  
Financial Sector Development ◽  
Pacific Island Countries

Except for emergencies and for technical assistance for raising skills and institution building, foreign aid to Pacific island countries (PICs) for budgetary support has been phased out since the late 1990s. Because of the small sized domestic markets, foreign direct investment (FDI) is small and is confined to development of tourism infrastructure. On the other hand, inward remittances received from the rising number of islanders migrating overseas for work are increasing, far exceeding aid and FDI. However, influence of remittances on economic growth depends on financial sector development (FSD) for mobilizing the savings from the remittance receipts for domestic investment. This paper assesses the role of FSD in the nexus between remittances and economic growth through a panel study of five major PICs, namely Fiji, Samoa, Solomon Islands, Tonga and Vanuatu.  The study findings show that the ongoing efforts for strengthening FSD have to be stepped up by focusing on financial inclusion through spread of branchless banking and promotion of  information and communication technology.

Role of Remittances in Economic Growth in Pacific Island Countries: A Study of Samoa

2009 ◽  
Vol 8 (4) ◽  
pp. 611-627 ◽  
Author(s):  
Chee-Keong Choong ◽  
Ronald Kumar ◽  
Keyword(s):  
Economic Growth ◽  
Foreign Exchange ◽  
Pacific Island ◽  
Great Support ◽  
Domestic Savings ◽  
Pacific Island Countries

AbstractRemittances have been a great support to Pacific island countries (PICs). Aside from providing additions to domestic savings and, hence, real resources, they have been one of the major sources of foreign exchange earnings. In the context of falling exports and limited options to diversify their exports, inward remittances have assumed greater importance. This paper examines the nexus between growth and remittances in Samoa.

Aid and Economic Growth in Pacific Island Countries: An Empirical Study of Aid Effectiveness in Fiji

2006 ◽  
Vol 5 (4) ◽  
pp. 329-350 ◽  
Author(s):  
◽  
Chee-Keong Choong
Keyword(s):  
Economic Growth ◽  
Time Series Data ◽  
Aid Effectiveness ◽  
Series Data ◽  
Pacific Island ◽  
Domestic Savings ◽  
Per Capita ◽  
Pacific Island Countries ◽  
Tied Aid

AbstractPacific island countries (PICs), ever since their independence during the second half of the last century, have been among the world's top ten recipients of official development assistance (ODA) on a per capita basis. Until the mid 1990s, most of them were receiving aid from their erstwhile colonial masters for budgetary support. With the introduction of reforms in ODA delivery in the late 1990s with focus on program and project-tied aid, it was expected that aid would directly facilitate creation of much-needed growth enhancing infrastructures, physical as well as social, since domestic savings were found to be insufficient to finance them. However, continued stagnation in some PICs and deterioration in some others have been causing concerns. This paper seeks to examine the effectiveness of aid by undertaking a case study of Fiji, which has a longer time series data needed for econometric investigation. Based on the study's findings, the paper lists some policy conclusions relevant to the region.

CASE STUDY: Role of remittances in Tongan economy

2014 ◽  
Vol 7 (2) ◽  
pp. 224-230 ◽  
Author(s):  
T. K. Jayaraman ◽  
Chee-Keong Choong ◽  
Ronald Kumar
Keyword(s):  
Economic Growth ◽  
Foreign Exchange ◽  
Pacific Island ◽  
Great Support ◽  
Domestic Savings ◽  
Pacific Island Countries

Inward remittances have been a great support to Pacific Island Countries, including Tonga. Aside from being a major source of foreign exchange earnings, they supplement domestic savings and real resources. This paper examines the role of remittances in the economic growth of Tonga’s during a 28 year period (1981-2007).

scholarly journals Oil Price and Economic Growth in Small Pacific Island Countries

2011 ◽  
Vol 02 (02) ◽  
pp. 153-162 ◽  
Author(s):  
T. K. Jayaraman ◽  
Evan Lau
Keyword(s):  
Economic Growth ◽  
Oil Price ◽  
Pacific Island ◽  
Pacific Island Countries

Tourism and Economic Growth: A Panel Data Analysis for Pacific Island Countries

2010 ◽  
Vol 16 (1) ◽  
pp. 169-183 ◽  
Author(s):  
Paresh Kumar Narayan ◽  
Seema Narayan ◽  
Arti Prasad ◽  
Biman Chand Prasad
Keyword(s):  
Economic Growth ◽  
Data Analysis ◽  
Panel Data ◽  
Panel Data Analysis ◽  
Pacific Island ◽  
Pacific Island Countries

scholarly journals SPREAD OF ICT AND ECONOMIC GROWTH IN PACIFIC ISLAND COUNTRIES: A PANEL STUDY

2020 ◽  
Vol 23 ◽  
pp. 109-128
Author(s):  
Keshmeer Kanewar Makun ◽  
T K Jayaraman
Keyword(s):  
Economic Growth ◽  
Panel Data Analysis ◽  
Panel Study ◽  
Information And Communications Technology ◽  
Communications Technology ◽  
Pacific Island ◽  
Sensitivity Evaluation ◽  
Per Capita ◽  
Pacific Island Countries ◽  
The Impact

This paper investigates the impact of information and communications technology(ICT) on economic growth in Pacific Island countries by employing an augmentedproduction function model and panel data analysis from 2002 to 2017. The empiricalfindings reveal that ICT-related indicators have a positive and significant impact on theeconomic growth process, along with the fundamental variable of capital stock. Theeffect of control variables such as foreign direct investment and exports have a positiveeffect on the real gross domestic product per capita, whereas inflation has a negativeeffect. The sensitivity evaluation of ICT indicators with different control variablesproduces consistent evidence of ICT’s effect on economic growth. Policymakersas well as ICT stakeholders should enhance investments for improving ICT-relatedinfrastructure and promoting technology to boost economic growth in Pacific Islandcountries.

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