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Literature Review and Evidence Review Assignment
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Added on 2020-03-16
Literature Review and Evidence Review Assignment
Added on 2020-03-16
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Part 2: Literature Review and Evidence Review 1PART 2: LITERATURE REVIEW AND EVIDENCE REVIEWBy (Student’s Name)Professor’s NameCollegeCourseDate
Part 2: Literature Review and Evidence Review 2Executive SummaryThe literature review has delved deep into understanding the particular challenges facingthe shipment of petroleum products in Maldives and what the Maldivian government is doing orhas done to help mitigate these challenges. A comprehensive systematic critical review ofliterature has been employed to present useful information about Maldives petroleum productsshipment challenges and the government initiatives to address such challenges. The majorchallenge facing the shipment of petroleum products is the poor transportinfrastructure/connectivity. The effect is that the cost of transporting petroleum productsbecomes unattainable. This is because the cost of transport sometimes even surpass the benefitsaccruing and hence many traders will fail to ship the petroleum products. The government ofMaldives remains committed to solving these challenges though it is facing a deficit budget. Thegovernment has resorted in other sources of revenue including various taxation and privatization(mostly for efficiency) to help implement the Master Plan already adopted.
Part 2: Literature Review and Evidence Review 3PART 2: LITERATURE REVIEW AND EVIDENCE REVIEWIntroductionMaldivess has been classified as a Small Island Development State (SIDS) by the UN.This classification accompanied the acknowledgment that a unique cohort of economies faceparticular economic, social as well as environmental vulnerabilities as a result of theircorresponding inherent features. The fifty SIDSs are categorized into 3 regions by the UNDESA.A small number of SIDSs have extremely high levels of income like Singapore or Maldiveswhich is in the upper-middle income bracket. Nevertheless, many SIDSs, particularly the ones in the Pacific, belong to low-incomecategory. Such, SIDSs lag behind based on development of human as proven by theircorresponding low social indicators. A great number of SIDSs face common challenges, amongthem shipment of petroleum products that have impacted their economic performance as well asthe general development. All economies, whether small or large, experience outdoor and internalshocks, however, lower-income SIDSs are especially vulnerable to both environmental as well aseconomic phenomena.Challenges Facing Shipping of Petroleum Products in MaldivesBoth size and geography of Maldives have never barred the economy fromaccomplishing high per-capita income growth in the course of the twenty years or from hittingmost of its MDGs targets. The question is how to make sure that the economic developmentfruits disseminate to all income categories, particularly, Maldivian residing in the peripheries(Faisal 2014). The Maldivian government continues to seek answers to disparities between Maleand atolls via, for instance, the implementation of targeted policy like the “population anddevelopment consolidation. This is done by speaking to inequalities in access to the
Part 2: Literature Review and Evidence Review 4infrastructure, employment opportunities as well as social services. Nevertheless, the success ofthese attempts rely heavily not solely on the capacity and policies of Maldivian government butalso depend on sustainability of Maldives’ economic performance. The economic performance ofSIDSs is extremely vulnerable to the foreign economic as well as environmental variables overwhich their respective government have small control (Ibrahim, Tiraphat and Hong 2016). In this respect, accomplishing an inclusive as well as sustainable development inMaldives endures to be a demanding as well as a challenging undertaking. To better fathom theeconomic challenges facing Maldives, a brief deliberation on the factors that place them isperipheral position is inevitable. It is against this backdrop that this literature review focuses onthe challenges that face Maldives’ shipment of the petroleum products. One of the majorconsequent of this challenge is that the international market accessibility as well as tradeopenness restrained as well as is exacerbated by the remoteness. Various factors affect Maldivesaccess to the global market (Ibrahim, Tiraphat and Hong 2016). The country has great underdeveloped transport infrastructure, particular for due to itsremote. This problem is a great impediment to the shipment since it limits the potential to gainfrom trade of these petroleum products. Another challenge is the poor international as well asdomestic connectivity in Maldives coupled with extreme costs of transport thereby makingpetroleum products less competitive in the global market. The high transport cost have hinderedMaldives trade integration. This is because the integration requires sea as well as air transport toaccelerate the activities of trade (Johnson 2017). Maldives further suffers from irregularmaritime and air transport services which make its enterprises in island to find it increasinglychallenging to meet the sudden alterations in the demand unless they keep huge stocks thatconsequently raise the working capital costs. Also, delays as well as uncertainties in basic
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