None of the 14 Pacific Island countries (PICs), except Papua New Guinea has any fossil fuel resources. Consequently, all the 13 PICs are totally dependent on oil imports for their economic activities. Recent surges in oil prices have had serious economic repercussions on economic growth. This...

This paper examines liquidity in the banking system under a fixed exchange rate regime. By employing two measurement procedures, it is found during last 15-year period (1994-2008) and particularly, in recent months, there have been large fluctuations in liquidity. They are partly influenced by...

In the context of the ongoing current global economic downturn, mobilization of foreign exchange earnings has assumed considerable importance. By adopting an augmented Solow model approach, this paper examines the long-run growth effects of Fijis inward remittances during a threedecade period...

Inward remittances have been a great support to Tongan economy. Aside from being a major source of foreign exchange earnings, they supplement domestic savings and real resources. This paper examines how remittance inflows in combination with increased financial development during a 28 year...

Pacific island countries have been affected by the ongoing global economic downturn. The impact of recessionary effects has not been uniform as the degree of global interdependence varies amongst Pacific island countries. By employing a vector autoregression (VAR) model, this paper investigates...