Having abundant exports doesn’t always translate into a strong economy, he finds, since the two mostly richly endowed countries in the region are among the poorest in quantified per capita income. In this report, Hezel looks at the record to find out how the Pacific Island nations have fared in this respect since independence. This report is an attempt to answer the question: Are FSM and the Marshall Islands unusual in this respect or are all small Pacific Island nations waging a losing battle in their attempts to create more self-supporting economies?ĭevelopment economists frequently argue that with the right policies in place and necessary reforms implemented, any nation, whatever its limitations, can develop a successful economy. Despite abundant start-up funds from the United States and advice from consultants on how to create future prosperity, self-sustainability for these island nations remains as elusive as ever. Hezel, SJ, examined the economic performance of the Federated States of Micronesia (FSM) and the Republic of the Marshall Islands before and after independence. In an earlier issue of Pacific Islands Policy, Francis X.
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