Role of International Organizations in the Economic Development of the World’s Smallest Economies

This chapter explores how the smallest economies in the world engage with international intergovernmental organizations. The chapter delves into the major and oldest international organizations, including the World Trade Organization (WTO), the United Nations (UN) and its specialized agencies, the International Monetary Fund (IMF) and the World Bank, as nearly all of the world’s smallest economies are members. In line with the acceleration of globalization, the role of these major organizations has increased, becoming major global actors in addition to countries and multinational corporations. The proliferation of integration trends has also resulted in the formation of many other international and regional organizations, in which the smallest economies in the world were keen to participate. Undoubtedly, being a member of these organizations offers significant advantages to their economies, fostering growth and promoting economic development.