Please use this identifier to cite or link to this item: https://www.um.edu.mt/library/oar/handle/123456789/40240
Title: Economic resilience and market efficiency in small states
Authors: Cordina, Gordon
Keywords: States, Small -- Economic conditions
States, Small -- Economic aspects
Capital market
Industrial policy -- Case studies
Small business -- Case studies
Issue Date: 2007
Publisher: University of Malta. Islands and Small States Institute
Citation: Cordina, G. (2007). Economic resilience and market efficiency in small states. Occasional Papers on Islands and Small States, 1, 1-14.
Abstract: Economic resilience is the ability of an economy to withstand and rebound from the effects of adverse shocks. This is dependent upon the efficiency with which resources are allocated and can be reallocated following changes in exogenous conditions. Markets are a key factor in the allocation of resources, be they capital, labour, goods and services. Therefore, the extent to which markets operate efficiently is an important determinant of economic resilience. On the other hand, it is to be considered that instances of market failure are more common in small, vulnerable economies, which consequently have greater need for policy measures aimed at enhancing the efficiency of markets or at replacing them with appropriate mechanisms conducive towards building economic resilience. In this context, it is important to avoid instances of policy failure, which may nevertheless apply to a larger extent in small economies.
URI: https://www.um.edu.mt/library/oar//handle/123456789/40240
ISSN: 10246282
Appears in Collections:Scholarly Works - InsSSI

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