The introduction of the euro in 1999 has led to many initiatives and inquiries in other regions regarding the merits and prospects of currency unions. One of the regions where a currency union has been of interest is the Pacific island countries along with Australia and New Zealand. This paper...

In the context of the ongoing world-wide recession and the consequent dim prospects for exports from small Pacific island countries, mobilization of foreign exchange earnings assumes considerable importance. The dependency of Samoa and Tonga on inward remittances is well known, as the two...

This paper investigates the effect of changes in exchange rate on consumer price level, in Fiji, known as exchange rate pass-through during a thirty year period (1982-2009). Specifically, three time periods are focused on: the pre-coup years (1982-1986); post coup years (1987-2009); and full...

The article examines how growth fluctuations in major trading partner countries of the world have affected the Indian economy since its liberalization from the mid 1990s. This empirical study confirms that domestic output of India was strongly influenced by global shocks. The findings are not...

The fourteen Pacific island countries, under the auspices of their regional organization known as the Pacific Forum, launched two major initiatives in 2002 to introduce unhindered trade amongst themselves by 2010 and usher in an enlarged free trade area with Australia and New Zealand by 2015....

The South Asian Association of Regional Cooperation (SAARC) marked its Silver Jubilee in 2010. The SAARC’s charter, which was signed by Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan, and Sri Lanka in 1985, has many similarities to the founding charters of similar regional...

In a global economy, the South Pacific islands face unique constraints to growth. The study investigates whether Fiji was benefited by three-decade old open trade policies. Through a multivariate cointegration analysis, the study establishes the existence of a long-run relationship between open...

Inward remittances have been a great support to Pacific Island Countries, including Tonga. Aside from being a major source of foreign exchange earnings, they supple-ment domestic savings and real resources. This paper examines the role of remit-tances in the economic growth of Tonga’s during a...

This paper seeks to investigate whether there is any causal relationship between capital stock prices and macroeconomic activities in Fiji. Empirical results show that all the time series data are nonstationary and cointegrated with a single vector. All the explanatory variables have been found...

The Pacific Islands Forum, the regional organization comprising 14 Pacific Island countries (PICs), Australia and New Zealand is committed to strengthen regional cooperation and integration. This paper examines progress in real and financial integration in the region. Utilizing the methodology...