Please use this identifier to cite or link to this item: https://www.um.edu.mt/library/oar/handle/123456789/61624
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dc.contributor.authorVella, Stephanie-
dc.date.accessioned2020-10-13T06:23:24Z-
dc.date.available2020-10-13T06:23:24Z-
dc.date.issued2008-
dc.identifier.citationVella, S. (2008). Private sector development and micro-enterprises in small states. In L. Briguglio, G. Cordina, N Farrugia, & C. Vigilance (Eds.), Small states and the pillars of economic resilience (pp. 144-161). Msida: University of Malta. Islands and Small States Institute & London: The Commonwealth Secretariaten_GB
dc.identifier.isbn978-99909-49-24-7-
dc.identifier.urihttps://www.um.edu.mt/library/oar/handle/123456789/61624-
dc.description.abstractThis chapter seeks to highlight the importance of private sector development in building the economic resilience of small states. It refers to small-sized enterprises stressing that such firms can enhance economic flexibility, an important element in economic resilience, defined as the ability to withstand and rebound from exogenous shocks. The private sector, compared to the public sector, is generally more exposed and therefore more responsive to market realities. As a result, a strong private sector is vital for resilience building, and this is especially so in small states, which tend to be highly exposed to external shocks. However the private sector can be inefficient and characterised by inertia, especially if there is a proliferation of monopolies and oligopolies. The chapter contends that the development of this sector should be accompanied by appropriate policies to encourage competitiveness and efficiency. The chapter also discusses the role of micro-enterprises in small states and their role in resilience building. In the case of small states most firms are likely to be micro-enterprises, employing fewer than 10 persons. The chapter argues that small states should attempt to maximise the contribution of micro-enterprises towards the enhancement of competitiveness, by creating an atmosphere congenial to entrepreneurship, improving access to funds, particularly venture capital, and encouraging clustering.en_GB
dc.language.isoenen_GB
dc.publisherUniversity of Malta. Islands and Small States Institute & The Commonwealth Secretariaten_GB
dc.rightsinfo:eu-repo/semantics/openAccessen_GB
dc.subjectCapital market -- Case studiesen_GB
dc.subjectMarkets -- Case studiesen_GB
dc.subjectEnvironment -- Economic aspectsen_GB
dc.subjectSustainable developmenten_GB
dc.subjectStates, Small -- Economic aspectsen_GB
dc.subjectSmall business -- Case studiesen_GB
dc.titlePrivate sector development and micro-enterprises in small statesen_GB
dc.title.alternativeSmall states and the pillars of economic resilienceen_GB
dc.typebookParten_GB
dc.rights.holderThe copyright of this work belongs to the author(s)/publisher. The rights of this work are as defined by the appropriate Copyright Legislation or as modified by any successive legislation. Users may access this work and can make use of the information contained in accordance with the Copyright Legislation provided that the author must be properly acknowledged. Further distribution or reproduction in any format is prohibited without the prior permission of the copyright holderen_GB
dc.description.reviewedpeer-revieweden_GB
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