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Organization for the Smallest Economies in the World
World's first organization dedicated to supporting countries with the small economic potential
The Organization for the Smallest Economies in The World (OSEW) is a knowledge hub for data, analysis, reports, and best practices, a center for research and consultancy dedicated to the world’s smallest economies. OSEW’s goal is to enhance global awareness of the smallest economies in the world and understanding of the challenges they face.
The small economic potential of these economies often results in the marginalization on the global stage. They attract international attention only when they are involved in sporadic conflicts or pose a threat to larger economies. They are typically discussed in the context of money laundering or exceptional sporting achievements. However, once these episodic events conclude, they are quickly forgotten by the global community, including politicians, scientists, and the media. This demonstrates the perception of the global community of their insignificance on the world stage. It is challenging to be a small economy, largely due to the numerous obstacles they encounter. These include limited economic diversification, which can threaten economic stability; a high dependence on imports, leading to reliance on external markets and increased costs; restricted access to international markets due to logistical constraints, high transportation costs, and a lack of competitiveness; and a high level of migration and 'brain drain,' which frequently results in a deficit of skilled professionals and impedes local economic growth.
A further challenge is posed by the environmental issues faced particularly by the world's smallest island economies, which make up more than a third of the group. The adverse effects of climate change, including rising sea levels, increased incidence of natural disasters, and environmental degradation, have a detrimental impact on these economies. In turn, poverty that is prevalent in nearly half of the world's smallest economies. Limited access to capital for developing infrastructure, including transport, energy, telecommunications, healthcare, and education, often results in social instability. This, in conjunction with the prevailing economic and political instability and institutional weaknesses, acts as a deterrent to foreign investors, and creates the perception among international financial institutions that these countries are highly risky. Consequently, it is challenging for them to secure loans, and when loans are granted, they often come at a higher cost.
OSEW promotes international cooperation of the world’s smallest economies. It aims to support their sustainable economic, social, political, and environmental development. It facilitates the exchange of knowledge, technology, and exemplary practices among these economies, while also drawing on insights from larger economies. However, OSEW’s overarching goal, is to improve the living conditions of people in the least economically developed of the world's smallest economies by helping them strengthen their economic potential.
Aneta A. Teperek
Founder OSEW
The concept of establishing the Organization of the World's Smallest Economies (OSEW) was initiated by Dr. Aneta A. Teperek, a scholar and entrepreneur. Dr. Teperek's long-standing passion for both science—particularly macroeconomics and international relations—and business, supported by a strong foundation of knowledge, has led her to pursue two parallel paths: academic research and business practice. After obtaining a master's degree in economics in Poland and completing executive business programs at the Wharton School of the University of Pennsylvania and Harvard Business School in the United States, she committed herself to entrepreneurship. Since then, she has founded and successfully managed several start-ups specializing in IT consulting, real estate development, and international trade, while extensively traveling to more than 80 countries. Concurrently, Dr. Teperek commenced research into the economies that are frequently overlooked by the global community—the smallest economies in the world. Her research has focused on a group of the world's smallest economies, which collectively generated 1% of global GDP. This group comprises 93 countries, which is as many as nearly half of the world's nations.
Dr. Teperek dedicated her doctoral dissertation, defended at the Warsaw School of Economics in Poland, to the study of these economies. Furthermore, they were also the focus of her postdoctoral studies, completed at the Polytechnic University of Leiria in Portugal. In addition, she has authored several articles and three books on the economic development of the world's smallest economies.
The book Economic Development in the World's Smallest Economies - how Geography, Demographics, and Culture Define Economic Activity examines three fundamental factors that impact the economic growth and development: geographic, demographic, and cultural influences within the 93 smallest economies in the world. The objective is to assess whether these countries possess the requisite environmental resources, human capital, and cultural conditions that are conducive to economic development, and if they effectively utilize them. The book begins with an overview of the world’s smallest economies, providing a detailed analysis of their location, neighboring countries, and land area.
Subsequently, the book examines elements of physical geography, including climate, soils, landforms, geological structure, and water resources. It evaluates how climate zones, soil fertility, topography, and hydrological systems impact key sectors like agriculture and transportation; how geological composition influences the availability of mineral resources and the development of the mining sector; and how access to sea waters enables opportunities for the development of tourism, fishing, and offshore mining. Furthermore, the book explores the demographic characteristics of the 93 world’s smallest economies, analyzing population changes from 1970 to 2019 and examining influencing factors such as natural increase and migration. Additionally it reviews the demographic structure of these economies, given its crucial role in the economic development. Finally, cultural aspects— including religion, language, and ethnicity—are analyzed for their influence on the economic activities, with insights into cultural characteristics can either accelerate or impede economic growth and development of the world’s smallest economies.
The book Long-Term Economic Growth in the World's Smallest Economies: Historical, Political, and Economical Aspects examines historical, political, and economic factors of the 93 world’s smallest economies, highlighting those most significant in influencing their economic growth and development. It begins with an overview of global economic history before delving into a detailed analysis of the history of the world's smallest economies. The shared historical backgrounds of these economies allowed for a typology that includes countries established through colonial processes, those that experienced years of socialism, and those that have functioned as independent states for decades or even centuries.
Unique historical experiences were evaluated for their influence on the current economic conditions of each country. Additionally, the political systems were analyzed, as the type of regime—whether democratic or authoritarian—significantly affects governance stability, policy implementation, and institutional effectiveness, all of which impact economic development. Furthermore, the participation of the world’s smallest economies in regional and international organizations was examined in relation to its benefits accelerating economic development. A substantial portion of the book focuses on economic aspects, including an analysis of GDP dynamics in the world's smallest economies from 1970 to 2019, as well as the annual growth rate of GDP per capita from 2000 to 2019, including identification of the factors driving these changes. The primary causes were attributed to political, demographic, and geographic influences. Finally, the socio-economic development of the world's smallest economies is evaluated using the Human Development Index (HDI), a synthetic measure that incorporates both economic and non-economic factors. HDI provides a more precise assessment than GDP per capita, as it evaluates not only socioeconomic development levels but also the quality of life.
93 countries, and only 1% of global GDP
12 countries, and as much as 70.5% of global GDP
9 Wall Street # 1493, New York, NY 10005, USA
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