Integration of the World’s Smallest Economies into the Global Economy

Integration of the World’s Smallest Economies into the Global Economy

Measurement across Institutional, Trade, Migration, Capital and Financial Dimensions

von Aneta A. Teperek

This book offers the first multidimensional assessment of countries’ integration into the global economy. Drawing on twelve measures, it examines key dimensions of integration, including institutional participation, analysed through membership to international organizations; mobility, assessed through freedom of movement and passport strength; trade, evaluated through the scale and structure of trade in goods and services; migration–transfer, measured through remittance flows; and capital and financial flows. The analysis is complemented by established development benchmarks, such as GDP per capita, the Human Development Index (HDI), and the KOF Globalization Index.

The book focuses on the world’s smallest economies, which, although collectively generating only one percent of global GDP, comprise as many as 93 countries—nearly half of the world’s states. By conceptualizing these economies as a distinct analytical category and advancing applied, multidimensional measures of their integration into the global economy, a new and more nuanced perspective on international economics is presented.

This book offers the first multidimensional assessment of countries’ integration into the global economy. Drawing on twelve measures, it examines key dimensions of integration, including institutional participation, analysed through membership to international organizations; mobility, assessed through freedom of movement and passport strength; trade, evaluated through the scale and structure of trade in goods and services; migration–transfer, measured through remittance flows; and capital and financial flows. The analysis is complemented by established development benchmarks, such as GDP per capita, the Human Development Index (HDI), and the KOF Globalization Index.

The book focuses on the world’s smallest economies, which, although collectively generating only one percent of global GDP, comprise as many as 93 countries—nearly half of the world’s states. By conceptualizing these economies as a distinct analytical category and advancing applied, multidimensional measures of their integration into the global economy, a new and more nuanced perspective on international economics is presented.

Aneta A. Teperek, PhD, is an economist specializing in the world’s 93 smallest economies; Visiting Fellow at the Geneva Graduate Institute (IHEID) and postdoctoral researcher at the Polytechnic University of Leiria; PhD in Social Sciences from the Warsaw School of Economics; alumna of executive programs at Harvard Business School and the Wharton School. Her nearly a decade of academic experience combined with over twenty years in international business, has provided the conceptual and operational foundation for the Organization for the Smallest Economies in the World (OSEW), headquartered in New York, supporting the sustainable development of the world’s smallest economies. Dr. Teperek is the author of three monographs published by Palgrave Macmillan on the world’s smallest economies; two examining the impact of geographical, demographic, cultural, historical, political, international, and economic factors on economic growth and long-term development of these 93 economies; and third analyzing their integration into the global economy across multiple dimensions, based on diverse economic, financial, institutional, and social indicators.

Highlights

• Highlights the exclusion of the world's smallest economies from international organizations Explores the ways in which the world’s largest economies dominate the global economy Offers insight into the structural, demographic, and political challenges limiting the economic integration

Über den Autor

Aneta A. Teperek, PhD, is an economist specializing in the world’s 93 smallest economies; Visiting Fellow at the Geneva Graduate Institute (IHEID) and postdoctoral researcher at the Polytechnic University of Leiria; PhD in Social Sciences from the Warsaw School of Economics; alumna of executive programs at Harvard Business School and the Wharton School.Her nearly a decade of academic experience combined with over twenty years in international business, has provided the conceptual and operational foundation for the Organization for the Smallest Economies in the World (OSEW), headquartered in New York, supporting the sustainable development of the world’s smallest economies. Dr. Teperek is the author of three monographs published by Palgrave Macmillan on the world’s smallest economies; two examining the impact of geographical, demographic, cultural, historical, political, international, and economic factors on economic growth and long-term development of these 93 economies; and third analyzing their integration into the global economy across multiple dimensions, based on diverse economic, financial, institutional, and social indicators.