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The Trade Performance of Small States

image of The Trade Performance of Small States

This paper analyses the trends in the relative significance of small states in world trade, and looks at the reasons for their marginalisation. It advocates that dependence on primary products and increasing globalisation explain much of the trend in the declining significance of small states, but that there are four other key factors: the structure of the export trade; the unfavourable geographical positions of many small states; their lack of financial resources; the global trade regime under the WTO.

English

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Implications for Long-term Trade and Development of Small States

While dependence on primary products and the increasing globalisation of the world economy explains much of the declining significance of small states, other factors aggravate the process, either by inhibiting or by not facilitating the development of dynamic export sectors. The long-term trade and development prospects of small states critically hinge upon the interplay of these factors and without addressing them the process of marginalisation cannot be reversed. This paper concludes, therefore, with some consideration of these factors.

English

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