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DC Field | Value | Language |
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dc.contributor.author | Vella, Stephanie | - |
dc.date.accessioned | 2020-10-13T06:23:24Z | - |
dc.date.available | 2020-10-13T06:23:24Z | - |
dc.date.issued | 2008 | - |
dc.identifier.citation | Vella, 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 Secretariat | en_GB |
dc.identifier.isbn | 978-99909-49-24-7 | - |
dc.identifier.uri | https://www.um.edu.mt/library/oar/handle/123456789/61624 | - |
dc.description.abstract | This 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.iso | en | en_GB |
dc.publisher | University of Malta. Islands and Small States Institute & The Commonwealth Secretariat | en_GB |
dc.rights | info:eu-repo/semantics/openAccess | en_GB |
dc.subject | Capital market -- Case studies | en_GB |
dc.subject | Markets -- Case studies | en_GB |
dc.subject | Environment -- Economic aspects | en_GB |
dc.subject | Sustainable development | en_GB |
dc.subject | States, Small -- Economic aspects | en_GB |
dc.subject | Small business -- Case studies | en_GB |
dc.title | Private sector development and micro-enterprises in small states | en_GB |
dc.title.alternative | Small states and the pillars of economic resilience | en_GB |
dc.type | bookPart | en_GB |
dc.rights.holder | The 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 holder | en_GB |
dc.description.reviewed | peer-reviewed | en_GB |
Appears in Collections: | Small states and the pillars of economic resilience |
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File | Description | Size | Format | |
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Private_sector_development_and_micro_enterprises_in_small_states.pdf | 313.48 kB | Adobe PDF | View/Open |
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