The New Caledonian economy beyond nickel.

Summary In addition to the cyclical difficulties linked to the low price of nickel, the New Caledonian economy suffers from low productivity gains, insufficient competitiveness and high income inequalities. The authors of the note, Catherine Ris, Alain Trannoy and Étienne Wasmer, show how to tackle these three handicaps and define a long-term growth strategy. The gradual transformation of natural resources into sustainable assets through a sovereign wealth fund, measures to promote competition and international openness, substantial investment in training and a more redistributive tax policy are the main avenues proposed.