This paper seeks to investigate connection between current account deficits in the balance of payments and domestic budget deficits in Vanuatu. Based on the results of an empirical analysis of data covering a 23-year period (1983- 2005), this paper concludes that there is strong evidence to...

Applying the procedures of variance decomposition and impulse response functions, this working paper aims to examine the impact of changes in policy variables namely, monetary aggregate (M1), exchange rate and interest rate on two monetary goal variables, namely output and price level in Fiji...

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