Managing Public Finances in a Small Developing Economy: The Case of Barbados.

According to author Marion Williams, CMA, the sound management of public finances is the most important factor in attaining the twin objectives of economic growth and improvement in the standards of living in small, open, developing economies. While looking at the challenges of public finance management in small states, with a focus on Barbados, this book suggests strategies of fiscal and microeconomic management for small economies that will permit them to ensure macroeconomic stability while promoting economic growth and development. In discussing the philosophy of public finance, Managing Public Finances in a Small Developing Economy examines small size and openness, using both traditional criteria and modern perspectives of liberalized systems. It deals with the challenge of avoiding overly expansionary budgets and the need for counter-cyclical policies in relation to macroeconomic objectives.