Purpose – Under the fixed exchange rate regime Fiji's currency, which is pegged to a basket of currencies of its major trading partners, has been experiencing severe pressures. The purpose of this paper is to study annual exchange market pressure (EMP) over a 31-year (1975-2005) period and...

This paper investigates the nexus between economic growth and oil price in small Pacific Island countries (PICs). Except Papua New Guinea, none of the 14 PICs has fossil any fuel resources. Consequently, the other 13 PICs are totally dependent on oil imports for their economic activities. Since...

Growing public debt of Fiji has been causing concerns all around. As part of countercyclical measures, the Government stepped up public expenditure from 2001 in response to the adverse consequences of the 2000 civilian coup, which witnessed a decline in investor confidence, resulting in a steep...

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

Given the fact that Fiji has a very narrow range of exportable commodities with a high degree of dependence on tourism earnings, maintenance of a competitive real exchange rate is of utmost importance. This paper undertakes an empirical analysis of Fiji's real exchange rate, by estimating...

This paper re-visits the subject of a common currency for the Pacific region, comprising 14 Pacific island countries (PICs) and the region’s two advanced countries, Australia and New Zealand. The PICs are highly dependent on Australia and New Zealand for trade in goods and services and aid...

India has been among the top ten remittance recipient countries in the world since the 1970s. In the context of the ongoing worldwide recession and uncertain export prospects, mobilisation of foreign exchange earnings has assumed greater importance. Given the intensification of financial sector...