Les modes de financement du développement durable et leur impact sur la croissance et le bien-être social dans les Petites Économies Insulaires en développement. Le cas d’Haïti

• Main Author: Louis Dupont
• Format: Article
• Language: English
• Published: Université des Antilles 2018-07-01
• Series: Études Caribéennes
• Subjects: international remittances; foreign aid; FDI; indebtedness; social welfare; cointegration
• Online Access: http://journals.openedition.org/etudescaribeennes/11907

This paper has three goals: First, analyze the role of financing for sustainable development in small island development states (SIDS). Second, assess empirically whether there is any evidence that foreign capital flows in SIDS has a positive impact on economic growth and social welfare of these countries. Lastly, suggests strategic recommendations of financing for sustainable development in small island developing states. Haïti is used as a case study for this exercise, because according to the United Nations, this country is included in the SIDS also in the less developed countries (LDS). To this end, cointegration technique and Granger causality tests are used. Our results suggest (i) the weakness of national saving is the main obstacle in the most SIDS to accelerate economic growth and to improve social welfare; (ii) in the case of Haiti, the results revealed that remittances and foreign direct investment have positive impacts on human development in long run, (iii) short run analysis confirmed unidirectional causality running from remittances to human development also from remittances to foreign direct investment, (iv) the analysis suggests some policy recommendations such as domestic resource mobilization, policy stability, improvement of governance and institutions, building of physical infrastructure, financial development, suitable macroeconomic framework for price stability and improvement in human capital for the long-run growth of the economy.