Cyprus and the International Economy

Part 1 Size and economic development, Cyprus - the case of a small island economy: the issues; the case of Cyprus; size and economic development; scale constraints on industrialization; the necessity of specialization; vulnerability with concentration. Part 2 The economic development of Cyprus under the British, 1878-1900: the questions; early English influence and the medieval period; the Ottoman inheritance; the British takeover; the tribute; grants in aid; taxation and fiscal questions; currency and trade issues; British expenditure policy; water, forestry and agriculture; social development and services; the early British occupation in retrospect. Part 3 The impact of the exogenous shocks of 1974 on Cypriot trade: objectives and scope; aggregate trade and balance of payments effects; export trends; export diversification; import trends; capital goods imports; terms of trade; direction of trade; export markets; import origin. Part 4 Cyprus and the European Community: the outlook for Cypriot membership; the European Community and Turkey; political concerns; the Association Agreement; the Customs Union Agreement; a rationale for Cyprus-European Community trade; a chronic trade deficit; integration with the European Community; the special trade relationship with Britain; a changing direction for European Community trade; prospects for trade with the European Community. Part 5 Offshore activity - the island as a services base for the Middle East: conceptual and economic issues; the footloose nature of services; prerequisites and complimentarities; confidence and uncertainties; locational pull factors; regional services poles; the offshore shipping companies; registration charges for offshore shipping; private benefits from offshore shipping; offshore banking activity; incentives for offshore banks; captive insurance companies; legal and professional services; foreign direct investment; a monitoring centre for the Middle East; the future for offshore business. Part 6 The impact of tourism on the economy of Cyprus: the context; the scope of the investigation; the contribution of tourist earnings to the balance of payments; the economics of tourist transportation; government revenue and expenditure on tourism; the spatial implications of tourist development; the temporal impact of tourism; income distribution and tourist development, part contents.