La « vie chère » comme une manifestation de la vulnérabilité structurelle des Départements et Régions d’Outre-Mer français : entre faits stylisés et enseignements de la littérature académique

With the recurrence of riots since 2009 in the French overseas departments (Guadeloupe, French Guyana, Martinique, Mayotte, and La Reunion), the ?high cost of living? became one of the major subjects of interest for these economies together with unemployment and poverty. This article aims at showing that the persistence in price gaps between these territories and their metropolitan patron can be economically justified considering the concept of structural vulnerability. The high structural vulnerability of these French small islands, and especially their strong exposure to shocks, introduces numbers of handicaps for local firms generating several hidden costs, weak labour productivity, and an economic environment characterized by high uncertainty. These impediments dramatically increase their exposure to exogenous shocks, reducing their price-competitiveness and possibilities of productivity gains. In this context, a sufficient level of profitability for local firms requires a system of high prices.