{
  "title": "Growth Strategies and Diversification in the Pacific Islands Countries",
  "publication": "IMF Working Papers, June 13, 2025",
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  "summary": "We examine growth strategies for the Pacific Island Countries (PICs) focusing on the role of tourism and diversification.",
  "sections": [
    {
      "heading": "Main findings on tourism and growth",
      "content": "- Quantified the contribution of tourism to growth using panel regressions.\n- Computed how much additional tourism would be needed for Pacific Island Countries (PICs) to sustain comparators’ growth rates.\n- Found that the scaling ups in tourism required to match comparators’ growth rates are sizable."
    },
    {
      "heading": "Diversification analysis and results",
      "content": "- Considered an alternative growth strategy based on diversification given the large tourism scaling-ups required.\n- Identified diversification episodes in the PICs.\n- Quantified the benefits of diversification episodes using the synthetic control method.\n- Concluded that diversification episodes have had mixed results for PICs."
    },
    {
      "heading": "Framework for designing growth strategies",
      "content": "- Proposed a framework based on:\n  - Diagnosing the binding constraints to PICs’ economic expansion.\n  - Designing strategies that work around these limitations."
    },
    {
      "heading": "Subjects and keywords (as listed)",
      "content": "- Subjects: Economic sectors, Environment, Export diversification, Exports, International trade, Natural disasters, Tourism\n- Keywords: Annex II, Caribbean, diversification, diversification episode, Export diversification, Exports, growth, growth strategy, IMF exports diversification toolkit, Natural disasters, Pacific Islands, Pacific Islands countries, Tourism, tourism-led strategy\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2025/06/12/growth-strategies-and-diversification-in-the-pacific-islands-countries-567598"
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    "Authors: Gabriela Cugat",
    "Published: June 13, 2025",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9798229013437.001",
    "Quantified the contribution of tourism to growth using panel regressions.",
    "Computed how much additional tourism would be needed for Pacific Island Countries (PICs) to sustain comparators’ growth rates.",
    "Found that the scaling ups in tourism required to match comparators’ growth rates are sizable.",
    "Considered an alternative growth strategy based on diversification given the large tourism scaling-ups required.",
    "Identified diversification episodes in the PICs.",
    "Quantified the benefits of diversification episodes using the synthetic control method.",
    "Concluded that diversification episodes have had mixed results for PICs.",
    "Proposed a framework based on:",
    "Subjects: Economic sectors, Environment, Export diversification, Exports, International trade, Natural disasters, Tourism",
    "Keywords: Annex II, Caribbean, diversification, diversification episode, Export diversification, Exports, growth, growth strategy, IMF exports diversification toolkit, Natural disasters, Pacific Islands, Pacific Islands countries, Tourism, tourism-led strategy",
    "**Working Paper**"
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