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INDEPENDENT, DEPENDENT AND INTERDEPENDENT MODELS OF ISLAND STATE DEVELOPMENT: INSTITUTIONAL AND ECONOMIC EXPERIENCES IN THE CARIBBEAN

  • Central Bank Of Barbados
  • 25 Jul,2011
  • 27
  • Working Papers,
  • Print

There is an inherent difference between small and politically non independent states and those sovereign states that aspires to independence and takes on the mantle of responsibility for their own destiny and development. While this has become recognized in the small island research genre of economic development there is more to be explored including the economic dynamics and the cultural and political promise of political independence. On average small non-politically independent states perform better than sovereign independent states but is that level of development sustainable or desirable since they are often strings attached? Are these politically non independent states better off along a development spectrum as they appear to be or do they just have the veneer of a better lifestyle while lacking deep economic anchors that allows for sustainable development independent of colonial linkages? The purpose of this paper is to explore where these differences exist along an economic dimension and to confirm whether these islands are at a higher political and economic plane than their sovereign counterparts. Previous studies have been conducted on this subject but more should be done considering that the anti- colonial mantra of the 80’s have now been replaced by an extreme pragmatism that asserts the impact and power of globalization on small island development states.