Economic democracy and financial reform in Vanuatu

Pacheco, Douglas (2007) Economic democracy and financial reform in Vanuatu. Social and Economic Studies, 56 1-2: 322-351.

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Author Pacheco, Douglas
Title Economic democracy and financial reform in Vanuatu
Formatted title

Journal name Social and Economic Studies   Check publisher's open access policy
ISSN 0037-7651
Publication date 2007-03
Sub-type Article (original research)
Open Access Status File (Author Post-print)
Volume 56
Issue 1-2
Start page 322
End page 351
Total pages 30
Place of publication Kingston, Jamaica
Publisher University of the West Indies, Sir Arthur Lewis Institute of Social and Economic Research
Language eng
Formatted abstract
This article identifies the rationale and trajectory of finance sector reform as part of the donor-sponsored Comprehensive Reform Program (CRP) in Vanuatu and provides an analysis of the problems associated with the lack of affordable credit for sectors of the population that do not fulfill commercial lending criteria. The article relies on financial hegemony theory in order to explain Vanuatu's role within larger international financial structures and rationale for reform. The discussion shows that foreign banking institutions are not interested in broadening credit access to poorer sections of the population and that high levels of state dependence hinder the development of a sustainable micro-credit sector. However, using Robert Pollin's Exit, Voice and Ownership methodology the article shows that civil society organisations that seek to increase economic democracy and participation, although few in number, are present in Vanuatu and provide a model for best practice in the country.

Q-Index Code C1
Q-Index Status Provisional Code
Institutional Status Non-UQ
Additional Notes Abstract only in Spanish and French

Document type: Journal Article
Sub-type: Article (original research)
Collections: Centre for Social Responsibility in Mining Publications
ERA 2012 Admin Only
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Created: Mon, 21 Feb 2011, 16:14:51 EST by Dr Vladimir Pacheco on behalf of Centre for Social Responsibility in Mining