The Pacific Economy

"The Pacific economy: growth and external stability", the latest volume in the PAFTAD Conference series, takes a hard look at the Pacific macroeconomic experience at the tail end of the 1980s, and draws lessons from it. It argues that management of each economy in the Pacific has significant externalities for others in the region, given the growing economic interdependence among them. "The Pacific economy" begins with an overview and a general review of models and issues that relate to Pacific growth and macroeconomic performance. Five chapters deal with individual country experiences of the 1980s, including those of developed, developing and advanced developing countries in the region. The book goes on to deal with specific issues relating to exchange rates, financial interdependence and commodity trends; and broader questions of economic inter-relations in the region. In this age of increasingly international economic interaction, macroeconomic management becomes a highly important issue of international policy debate. The essays in this volume are especially topical in the light of some clear trends for the future that emerge from the discussion, providing a wealth of background and analysis on the issues and policies central to macroeconomic management of the Pacific economies. "The Pacific economy" will prove especially useful not only to economists, but to policymakers, business strategists and researchers in the region. "Professor Mohamed Ariff is a distinguished economist with a particular expertise in the economies of Malaysia, Southeast Asia, and more broadly the Pacific. He has been a member of the International Steering Committee of the Pacific Trade and Development Conference since 1980.".