‘Islands within Islands?’ The Maldivian resort,between segregation and integration

Abstract

The Maldives resort islands are a type of tourist enclave subject to a dual form of borderization. The islands have an external border that coincides with each island’s coastline and with the limits of the private property of the resort; this border regulates the movement of tourists and locals. The islands also have an internal border that separates the outer edge of the island from the inner edge. The outer edge, which is supposed to represent the perfect landscape of the ‘tropical island,’ houses all of the tourist facilities, while the interior contains the structures dedicated to the metabolic activities of the resort. The frontline staff members and the tourists share the ‘dreamscape’ of the outer edge, whereas the maintenance workers live in the secluded space inside the island, where they are typically hidden from the sight of tourists by high walls, and their movement is usually restricted from staff designated areas to their location of work. For maintenance workers, these spaces, necessarily limited due to the small size of the coral islands, risk becoming ‘islands within islands.’ Recently, the Maldivian government has begun to promote projects and initiatives in support of territorial integration between the resorts and communities of neighboring islands. Thus, the outer limits of the resort islands are, today, more porous. Their internal borders, in contrast, remain very difficult to cross.     

Has the euro sustainably increased home price co‐movement?

A low level of co‐movement between different euro country housing markets creates difficulties for the ECB in setting monetary policy. Such co‐movement across eurozone countries has been the subject of a number of studies, using different methodologies and finding mixed results. In this study, we use endogenous break methods to explicitly test for whether the introduction of the euro has changed home value co‐movement. We also employ informal correlation analysis. Endogenous break results indicate no sustainable increase in co‐movement attributable to the euro, whereas correlation analysis is suggestive of a decrease in synchronization since the currency's introduction.