Open Research Online The Open University’s repository of research publications and other research outputs A small island territory moving down the ’development ladder’?: a case study of Jersey Journal Item How to cite: Oliver, Michael J. (2019). A small island territory moving down the ’development ladder’?: a case study of Jersey. Small States and Territories, 2(1) pp. 83–104. For guidance on citations see FAQs. c 2019 Islands and Small States Institute, University of Malta https://creativecommons.org/licenses/by-nd/ Version: Version of Record Copyright and Moral Rights for the articles on this site are retained by the individual authors and/or other copyright owners. For more information on Open Research Online’s data policy on reuse of materials please consult the policies page. oro.open.ac.uk Small States & Territories, Vol. 2, No. 1, 2019, pp. 83-104. A small island territory moving down the ‘development ladder’? A case study of Jersey Michael J. Oliver The Open University Milton Keynes United Kingdom
[email protected] Abstract: The small island economy of Jersey in the Channel Islands is one of the world’s most economically successful offshore financial centres. Jersey has long demonstrated its ability to respond to changing economic circumstances as it has adopted policies conducive to good economic, social, political and environmental governance. Over the last twenty years, there have been a growing number of challenges to the island’s economic resilience. Foremost among these have been regulatory threats to the finance industry; the Global Financial Crisis (GFC) and its aftermath; faltering growth in productivity; growing expectations of increased and better public service provision; and weak political governance.