| We use historical economic data of the Islands of St Pierre and Miquelon (SPM), a terri-tory of France situated 25 km south of Newfoundland (Canada), to explore different narratives of modern growth theory applied to small island economies when major changes in resource endowment occurs. The economy of SPM was less diversified than other territories because of privileged historical access to fisheries resources that un-derpinned the main sectors of the economy. That access was rapidly reduced because of changes brought about by the extension of the EEZ by Canada, and other fisheries management changes over time. The collapse of the northern cod stocks led to the cod fishing moratorium, imposed by Canada in 1992. This last major change, a crisis for SPM,... |
