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THE AUTHOR DESCRIBES THE ECONOMIES OF THE FORUM ISLAND COUNTRIES (FIC) AND DISCUSSES THE ECONOMIC PROBLEMS FACING THE FIC GOVERNMENTS. ALTHOUGH THE FIC'S ECONOMIC PROBLEMS ARE COMMON TO MANY DEVELOPING NATIONS, THEY ARE EXACERBATED BY THE ISLANDS' SMALLNESS AND GEOGRAPHIC ISOLATION.

Examines economic difficulties of the 14 Forum Island Countries (FICs), of which eight are Commonwealth members, and how these countries collaborate to resolve their problems. Australia, New Zealand, Kiribati, Nauru, Papua New Guinea, Solomon Islands, Tonga, Tuvalu, Vanuatu, Western Somoa, and other islands.

Most small island economies or microstates have distinctly different characteristics from larger developing economies. They are more open and vulnerable to external and environmental shocks, resulting in high output volatility. Most of them also suffer from locational disadvantages. Although a few small island economies have succeeded in generating sustained rapid growth and reducing poverty, most have dismal growth performance, resulting in high unemployment and poverty. Although macroeconomic policies play an important role in growth and poverty reduction, there has been very little work on the issue for small island economies or microstates. Most work follows the conventional framework and finds no or very little effectiveness of macroeconomic.

3. Kiribati. - VIII,76 S.; 4. Marshall Islands. - IX,71 S.; 5. Solomon Islands. - VIII,62 S