Barry Whiteside: Overview of the Fijian economy Address by Mr Barry Whiteside, Governor of the Reserve Bank of Fiji, at the opening of Credit Corporation (Fiji) Limited’s new building, Nadi, 4 October 2013.
Assuming that the cost of production consists of personnel expenses and material costs, many of the latter are determined through cross-border competition. Therefore, their price fluctuations – excluding volatility due to developments in the foreign exchange markets – should equally affect the entire global economy, and thus material costs cannot be the main reason why Japan is the  1  See http://www.boj.or.jp/en/announcements/release_2000/k001013a.htm/.