Sustainable Development in the Small States of the South Pacific: Toward a Corporate Social Responsibility for International Banks

Abstract

Sustainable development is an important but elusive goal for the highly vulnerable small states in the South Pacific. Events such as the current global financial crisis make this goal more elusive as international assistance is revised. New, self-dependent strategies and policies are required. Inspired by the expanding finance- growth literature and based on findings that international banks may control finance and contribute to users being 'involuntarily' excluded, this paper proposes a corporate social responsibility policy response for international banks in the region. Implications extend to other developing economies.