Long-Term Economic Growth in the World's Smallest Economies

This book investigates the historical, political, and economic circumstances of the world's smallest economies as key determinants influencing their economic growth and development. A historical survey of the global economy provides an introduction to the history of the world's smallest economies, which are examined based on their shared historical characteristics (colonialism, socialism and independence). In addition to historical factors, the reasons are sought in the political systems, especially the political regimes of the countries under study, as well as in the intensity of their integration with the global economy through membership in international organisations. The majority of the book is dedicated to economic aspects, which have been studied for nearly fifty years. This includes an investigation into the factors influencing GDP and GDP per capita fluctuations across all countries. To assess levels of socio-economic development and quality of life, the Human Development Index was employed as a means of assessment. This book is addressed to students and scholars engaged in research or with an interest in economic history, political systems, international relations, and the growth and economic development of the world’s 93 smallest economies, generating 1% of global GDP. Dr. Aneta A. Teperek is a postdoctoral graduate of the Polytechnic University of Leiria in Portugal and holds a PhD in social sciences from the Warsaw School of Economics. She is a Fellow of the Wharton School at the University of Pennsylvania and has completed executive business programs at Harvard Business School and Copenhagen Business School. The acquired knowledge in economics and business provided her with a solid theoretical foundation, enabling her to pursue two parallel paths: academic research and business practice. In her academic research she has concentrated on the economic development of the world's smallest economies, collectively generating 1% of global GDP. This topic has been the focus of her doctoral dissertation, postdoctoral research and several publications, including three books. Simultaneously, she has actively pursued a business path, as the founder and Chief Executive Officer of seversl successful start-ups specializing in IT consulting, real estate development, and international trade.