Volltext: Very small countries: economic success against all odds

like the University of the West Indies, an example of an international cooperation among VSC. To sum up, young citizens of island economies have the clear dis - advant age that they normally cannot attend a university at home. Although it could not be verified, we suppose that most VSC have sup- port schemes for their students abroad to cover tuition fees and other ex- penses. Hence, tertiary education is at least partially sourced out. If uni- versities are viewed as public institutions, VSC only bear a fraction of the costs of operating an own university when they support young citi- zens completing their higher education abroad. In the case of university education being considered a private good, students do, of course, not differ with regard to the size of their country of origin. Note that due to their size, it is very difficult to imagine a small island economy support - ing even a private university, with the possible exception of small, very specialized 
institutions. 4.3.4 Theoretical expectations versus reality – airports Table 4.5 provides evidence of the existence of airports in VSC. Airports should be viewed as important infrastructure with high establishing and maintenance costs. One naturally expects island economies to have their own airports despite the cost argument, because they are indispensable for the transport of people and goods. On the contrary, one presuppo- ses that landlocked VSC switch to airports of adjacent countries. It is not surprising that our hypothesis turns out be confirmed. Given the large number of islands and archipelagos among VSC, the re- sult in Table 4.5 is highly dependent on geographic circumstances. A re- liable source for testing our hypothesis are, nevertheless, landlocked VSC. With the exception of Luxembourg, they actually exhibit the ex- pected characteristic of not operating their own airport, which is a result that clearly proves the importance of international outsourcing for smal- ler countries. Specifically, Andorra, Liechtenstein, Monaco and San Marino do not operate an airport; not even airports with unpaved runways or air- ports with runways shorter than 914 meters, both of which we neglec - ted for Table 4.5. The citizens of these VSC, though, have relatively easy access to airports in adjacent countries. A contrasting example of an 97 
Organizational choice: theoretical expectations versus reality


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