2012-11: Sustainable development in the small states of the South Pacific: Toward a corporate social responsibility for international banks in small economies (Working paper)

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Sharma, Parmendra
Brimble, Mark
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Akimov, Alexandr

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2012
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33 pages

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Abstract

Sustainable development has been an important but elusive goal for the highly vulnerable small states in the South Pacific. Events such as the current global financial crisis are likely to make this goal more elusive as the generous developed world donors, affected themselves, are compelled to revise the level of their assistance to less developed economies. New, self-dependent strategies and policies are required. Inspired by the expanding finance-growth literature and based on findings that highly profitable and strongly capitalised international banks in the region may not only control finance but may also be contributing to users being 'involuntarily' excluded from formal financial sector finance, this paper offers a policy response in the form of corporate social responsibility for international banks in the region. Implications extend to other developing economies.

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Copyright © 2010 by author(s). No part of this paper may be reproduced in any form, or stored in a retrieval system, without prior permission of the author(s).

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Finance

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Subject

M14 - Corporate Culture; Social Responsibility

G21 - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

Access to finance

banks

corporate social responsibility

Fiji

Small Island Developing States

South Pacific

sustainable development

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