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Cultural Industries and Cultural Policy in the Context of Globalisation: An Agenda for SIDS

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The Diplomacies of Small States

Part of the book series: International Political Economy Series ((IPES))

Abstract

Small Island Developing States (SIDS) share many similarities beyond the issue of size. Many are former colonies and their economies are structured as plantation economies where production is dominated by one or two agricultural and mineral commodity exports and by export-oriented manufacturing in clothing and electronics. Consumption, on the other hand, is largely import-oriented accounting for the high share of trade in the national economy. SIDS are also characterised by the dominance of tourism in their economies, as well as their heavy reliance on foreign aid, which has been in decline in the post-Cold War environment. Remittances from diasporic communities have been a key new source of foreign exchange, in many instances outpacing Foreign Direct Investment (FDI), aid and other external sources of capital (Nurse, 2004a).

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© 2009 Keith Nurse

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Nurse, K. (2009). Cultural Industries and Cultural Policy in the Context of Globalisation: An Agenda for SIDS. In: Cooper, A.F., Shaw, T.M. (eds) The Diplomacies of Small States. International Political Economy Series. Palgrave Macmillan, London. https://doi.org/10.1057/9780230246911_14

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