Abstract
Conventional wisdom suggests that small, often island, states are more likely than larger nations to be hard hit by the effects of national disasters, of fluctuations in the global economy, and the political aspirations of world powers. The structural weaknesses they share have been quantified to create a Vulnerability Index. This paper points to what the author sees as flaws in the concept of vulnerability and its application to the weaknesses of small states. In particular he presents evidence that small developing countries have performed no worse than larger countries. He sets out six propositions which explain this paradox and identifies the comparative advantages that small states hold.