Economic Development in the World's Smallest Economies

This book examines three fundamental factors that influence the economic growth and development of the world's 93 smallest economies, which together generated 1% of global GDP. The objective of this study is to ascertain whether these countries possess the requisite environmental resources, human capital, and cultural characteristics conducive to economic development, and whether they are effectively utilizing these resources. Consequently, the location and elements of physical geography are analyzed, including climate, soils, landforms and geological structure from the perspective of mineral resources abundance as well as marine and inland water from the perspective of water resource abundance. The changes in population from 1970 to 2019 are also studied, along with the factors determining them that are natural increase and migration, as well as the demographic structure. The analysis of cultures, including religions and languages, are undertaken to identify cultural factors that either support or hinder economic advancement.This book is designed for students and researchers engaged in the study of economic geography, geography, demography, and macroeconomics. It serves as a valuable resource for international organizations engaged in the analysis of countries across the globe.