Please use this identifier to cite or link to this item: https://www.um.edu.mt/library/oar/handle/123456789/64402
Title: Chapter 10 : recent developments in St Lucia, Seychelles and Vanuatu
Other Titles: Profiling vulnerability and resilience : a manual for small states
Authors: Briguglio, Lino
Cordina, Gordon
Vella, Stephanie
Vigilance, Constance
Keywords: Economic development -- Saint Lucia
Economic development -- Seychelles
Economic development -- Vanuatu
Global Financial Crisis, 2008-2009
International Monetary Fund
Issue Date: 2010
Publisher: University of Malta. Islands and Small States Institute & The Commonwealth Secretariat
Citation: Briguglio, L., Cordina, G., Vella, S., & Vigilance, C. (2010). Chapter 10 : recent developments in St Lucia, Seychelles and Vanuatu. In: L. Briguglio, G. Cordina, S. Vella, & C. Vigilance (Eds.), Profiling vulnerability and resilience : a manual for small states. Msida: University of Malta. Islands and Small States Institute & London: The Commonwealth Secretariat. 118-122.
Abstract: The global financial crisis of 2008 and 2009 and resulting global recession have impacted most economies, including those of small states, which are characterised by a high degree of economic openness. All three small island states that were profiled in the previous chapters were adversely affected but not with the same intensity, with Vanuatu still registering positive growth in 2009, whereas St Lucia and Seychelles are estimated to have experienced negative growth rates (IMF, 201 Oe). Recent evidence would seem to suggest that the major effects on these small states were not mostly felt on the financial sector, due to the fact that the banking industry in these states did not indulge in excessively risky business, but on aggregate demand, especially on exports of goods and services. This chapter will briefly describe recent changes in the economies of these three small island states, with information derived mostly from IMF surveys.
URI: https://www.um.edu.mt/library/oar/handle/123456789/64402
Appears in Collections:Profiling vulnerability and resilience : a manual for small states

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