Abstract
Small states, often island or enclaves, frequently make news headlines because of their economic or political instabilities: the ‘failed state’ of the Solomon Islands, the imminent collapse of Nauru, the crisis of East Timor, and ethnic tensions and coups in Fiji are but recent examples. Small jurisdictions are also sometimes accused of being ‘modern day pirates’, bent on distorting international financial rules or operating on the margins of the financial system by creating offshore financial centres (OFCs) and attracting ‘unscrupulous’ sources of funds (Economist, 2007). Aside from these examples, however, there are many other small developing states that have made a successful transition to modernity, with quite envious standards of living and decent quality of life.
Keywords
- Gross Domestic Product
- Small Island
- Small State
- Trust Fund
- Marshall Island
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
Laws are generally found to be nets of such a texture as the little creep through, the great break through and middle-sized alone are entangled in.
William Shenstone (1714–63), Essays on Men, Manners, and Things
I would like to thank Nicola Hypher for useful comments on earlier drafts of this paper.
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© 2009 Naren Prasad
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Prasad, N. (2009). Small but Smart: Small States in the Global System. In: Cooper, A.F., Shaw, T.M. (eds) The Diplomacies of Small States. International Political Economy Series. Palgrave Macmillan, London. https://doi.org/10.1057/9780230246911_3
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DOI: https://doi.org/10.1057/9780230246911_3
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