Volatility, Island Nations and Small States

Jeffrey A. Edwards & Alfredo A. Romero

Economics and Business Letters Vol. 9 No. 3 (2020)

Abstract: The authors of this paper have attempted to fill a gap in the literature that addresses both domestic and foreign born growth volatility for island countries and small states. Using a sophisticated dynamic panel framework, we find that the characteristics of both types of volatility are considerably different than they are for other countries. Our results argue against the prevailing wisdom regarding volatility that these two groups should simply mimic the economic policies of other nations.


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