This book argues for a broader approach to sustainable growth in Small Island Developing States (SIDS). Small island states such as those in the Caribbean, Indian Ocean and South Pacific face significant and growing threats from climate change, increasing political and social volatility, and rapidly evolving global trends in technology and tourism. Based on ten years of research, this book looks beyond the Blue Economy of tourism and fisheries and provides a model of how creative industries, innovation networks, creative clusters and digital transformation can give SIDS the foundation for a strong sustainable future. The book provides not only insights into how these emerging digital-creative sectors can drive developing economies but also actionable tools for policy makers, entrepreneurs and academics to deliver increased performance on the United Nations Sustainable Development Goals and, ultimately, growth and sustainability. This book will be of great interest to scholars and practitioners of economic geography, sustainable development, development studies and the creative industries.

The Blue Economy is emerging on the global scene as a powerful and persuasive new concept for sustainable development based on economic activities associated with the ocean. Several regions globally have adopted this concept at national and regional levels, including the Caribbean. Given the complex, multisectoral and multilevel nature of the Blue Economy, it is clear that different approaches will be needed for different regions. Hence, this volume explores the opportunities, threats and risks involved in operationalising the Blue Economy in the Wider Caribbean Region, defined as northern Brazil to the USA and all mainland and island countries and territories in-between. The first part of the book looks at where the region stands in the global picture regarding adoption of the Blue Economy and what is planned. The second set of chapters examines key crosscutting issues such as ecosystem services, climate change and governance at national and regional levels that could make or break the Blue Economy initiative. The book then goes on to explore the main sectoral activities that will constitute the Blue Economies in the region: fisheries, tourism, shipping and transport, renewable energy, oil and gas, seabed mining and waste management are all considered. The book ends with a synthesis of the political and technical requirements to overcome threats and take advantage of opportunities in the Blue Economy.

Since the economic decline in the early 1980s, most countries in Central America and the Caribbean have returned to positive growth rates. The recovery often coincided with or followed extensive neoliberal reforms. The contributors to this book address the crucial question of whether these growth rates are sustainable. Several aspects of sustainability are assessed, in particular macroeconomic, social, and ecological aspects. The book includes both comparative analyses focusing on one of these aspects of sustainability, and country case studies. The conclusion is that these countries have not yet arrived at a sustainable growth path due to, for example, high levels of foreign and domestic debt, worrisome trade gaps, a lack of social integration and irresponsible exploitation of natural resources. In sum, the analysis points to serious weaknesses in the current neoliberal model, the implications of which go far beyond this particular region.

The book provides fresh look at the issues of sustainable development, degradation of natural resources and vulnerability to climate change in Small Island developing states (SIDS). It documents the deteriorating state of SIDS and adaptation efforts made to address the impending crisis of unsustainable economic growth with international, national and community support. Authors have discussed issues like macroeconomic trends, vulnerability, resilience capability, and SIDS-specific strategies focusing on sectors like trade and tourism. Discussion continues with the examination of democracy, social capital, quality of life, and health concerns. Climate change and natural resource challenges are analyzed using case studies. The book also discusses diplomatic complexities of international climate agreements, collective action and institutional quality constitute the analysis of global environment and sustainable development.

Macroeconomics in Small Island States brings to the reader similar subjects as in a traditional economics reader, but now in the context of small islands. To insure a level of societal well-being an island state develops an economic infrastructure that can be useful to attract foreign investors, and makes efforts to obtain continuous financing for activities to boost social and economic progress as well as international competitiveness. The colonial domination of the past and the long history of foreign transnationals as major economic actors, influence economic thinking, especially with respect to the focus on what should constitute basic industries and the transition to global competiveness. Additionally, changes in the domestic and international socio- economic environment and natural disasters can impact the ability of the island state to fulfill its debt service obligations negatively. These aspects put major pressure on the management of the internal economy, while investments in foreign capital goods apparently tend to have lower growth effects than would generally be expected from the domestic marginal propensity to consume. The publication gives attention to these issues and more and makes reference throughout to contributions to economic thinking by scholars in the Caribbean region.