9781137397126

Debt and Development in Small Island Developing States

by ;
  • ISBN13:

    9781137397126

  • ISBN10:

    1137397128

  • Format: Hardcover
  • Copyright: 2014-12-17
  • Publisher: Palgrave Macmillan
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Summary

Small island developing states (SIDS) are widely acknowledged to be among the most economically vulnerable in the world. As small open economies, SIDS are especially exposed to external shocks. The environmental, economic, and social difficulties stemming from climate change, rising sea levels, and natural disasters exacerbate the significant risks to the sustainable development of SIDS. In spite of the critical impact of high and rising debt levels on the developmental fortunes of these nations, very little comprehensive and rigorous academic research has been conducted on the nexus between debt and development in these vulnerable economies.

Debt and Development in Small Island Developing States draws on the expertise of established researchers and public officials from the SIDS community to answer the following questions: What has been the nature and extent of the debt experience in SIDS? What are the drivers of debt accumulation in such countries? What are the characteristics of SIDS that explain their propensity to indebtedness? And what are the prospects for debt sustainability in such countries over the medium term? This edited volume contributes to the literature by highlighting the essential elements of an agenda for achieving debt sustainability in SIDS.

Author Biography

Damien King is Senior Lecturer and Head of the Economics Department at the University of the West Indies at Mona, Jamaica, and Director of the Caribbean Policy Research Institute.
 
David F. Tennant is Senior Lecturer of Economics and Associate Dean at the University of the West Indies at Mona, Jamaica.

Table of Contents

1. Introduction; David Tennant and Damien King
PART I: THE PROBLEM - PAST, PRESENT, AND PROSPECTS
2. The Developmental Impact of Debt; David Tennant
3. The Debt Experience of SIDS in the Caribbean; Michelle Robinson
4. The Debt Experience of SIDS in the Pacific; Biman Prasad
5. The Debt Experience of SIDS in the Atlantic, Indian Ocean and South China Sea (AIMS); Kaymara Barrett, Altricia Dawson and Sidonia Mackenzie
6. Prospects for the Growth of Debt in SIDS; David Tennant and Kario-Paul Brown
PART II: CAUSES OF DEBT ACCUMULATION IN SIDS
7. The Sources of Debt in SIDS; Damien King
8. Institutional Causes of Debt in SIDS in the Caribbean, Pacific and AIMS Regions; Colin Bullock and Christine Clarke
PART III: AN AGENDA FOR DEBT SUSTAINABILITY IN SIDS
9. An Assessment of Recent Remedial Action Taken by Selected SIDS; Michelle Robinson
10. Debt Sustainability and Sustainable Development in SIDS; Abdullahi Abdulkadri
11. Elements of an Agenda for Debt Sustainability in SIDS; Damien King
12. Conclusion; Damien King and David Tennant

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