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Small States

Economic Review and Basic Statistics, Volume 14

image of Small States
This unique annual collection of key economic and statistical data on states with fewer than five million inhabitants is an essential reference for economists, planners and policy-makers. The Commonwealth’s definition of small states is those with a population of one and a half million or less. For comparison purposes this volume presents, where available, data on states with a population of up to five million.



The book contains fifty-four tables covering selected economic, social, demographic and Millennium Development Goal indicators culled from international and national sources and presents information unavailable elsewhere. A detailed parallel commentary on trends in Commonwealth small states, looking at growth, employment, inflation, human development, and economic policy, permits a deeper understanding of developments behind the figures.



The book also includes three articles focusing on trade in services: ‘Post-crisis Growth in Small States: The Role of Trade in Knowledge-based Services’ by Dirk Willem te Velde, ‘Exporting Health and Wellness: Prospects and Issues for Small States’ by Estella Aryada, and ‘Pro-poor Tourism Interventions through the Creation of Agro-tourism Linkages’ by Chanda Chella. Dirk Willem te Velde currently works at the ODI as the Director of Programmes in the International Economic Development Group. Ms Aryada and Ms Chella are Trade Advisers in the Special Advisory Services Division of the Commonwealth Secretariat.

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Post-crisis Growth in Small States: The Role of Trade in Knowledge-based Services

The global financial crisis has had an effect on all countries and small states are no exception (te Velde and Calí, 2010), although the effects vary markedly. However, some economic relationships still hold. As countries grow richer, their economic structures and institutions are transformed and the role of services becomes more important in their economies, especially in small states. The private sector drives much of this process, but government can support it. Indeed, a crucial choice for governments is whether they want to encourage this process and ensure that the right services are being promoted, or whether they stand aloof and slow down a necessary transformative processes towards a higher value added, high wage economy. It seems that trade in knowledge intensive services has also fared well in the current global financial crisis, contributing to growth that is resilient in the face of crisis.

English

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