Publication

This paper analyzes how certain ‘inherent vulnerabilities’ and disproportionate exposures to economic and non-economic crises severely impact the economic development of small states. More specifically, the text’s author provides a detailed look at these vulnerabilities – i.e., limited domestic demand and small production runs; natural disasters; and economic, food, and energy crises – and highlights the growth-inhibiting effects they have on both public and private institutions. In order to address these obstacles, the author suggests various economic reforms and encourages development advocates to support them.