Macroeconomic Consequences of the Size of Third World Nations: With Special Reference to Jamaica

It seems fairly generally accepted by economists that small economies ¹ such as Jamaica's will be heavily dependent on the international economy, on factors that are outside their control and influence, for their development. Thus, trade, access to foreign technology and foreign direct investment would seem to offer the only means by which small economies can diversify their exports, industrialize and establish a viable base for long term growth. But is this really so? Or is it one of the bits of conventional wisdom that are based on faulty reasoning or incorrect information? ²