Small States Digest - Issue 2, July 2010

This is the second issue of the Small States Digest, a periodic information sharing newsletter from the Commonwealth Secretariat, focusing on the interests of Small States.

In this issue, the digest carries three distinctive articles: “Transforming Guyana’s Economy while Combating Climate Change: A Low Carbon Development Strategy” by Government of Guyana; “Globalisation at Crossroads?” By Veniana Qalo; and, “Monetary Policy Transmission Work in Pacific Islands: A Study of Vanuatu” by T.K. Jayaraman and Chee-Keong Choong.

Guyana’s article explains how the country has transformed from a carbon-intensive economy to a pathway of low-carbon growth. In her article, Veniana Qalo looks at the proliferation of economic integration in the face of globalisation. Finally, the last article undertakes an empirical study of the transmission mechanism of monetary policy in Vanuatu and finds that monetary aggregate is more important than short term interest rate as a channel in transmitting impulses from the monetary sector to the real sector.