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Author: R. M. Auty Publisher: Oxford University Press ISBN: 0199246882 Category : Business & Economics Languages : en Pages : 357
Book Description
Since the 1960s the per capita incomes of the resource-poor countries have grown significantly faster than those of the resource-abundant countries. In fact, in recent years economic growth has been inversely proportional to the share of natural resource rents in GDP, so that the small mineral-driven economies have performed least well and the oil-driven economies worst of all. Yet the mineral-driven resource-rich economies have high growth potential because the mineral exportsboost their capacity to invest and to import."Resource Abundance and Economic Development" explains the disappointing performance of resource-abundant countries by extending the growth accounting framework to include natural and social capital. The resulting synthesis identifies two contrasting development trajectories: the competitive industrialization of the resource-poor countries and the staple trap of many resource-abundant countries. The resource-poor countries are less prone to policy failure than the resource-abundant countriesbecause social pressures force the political state to align its interests with the majority poor and follow relatively prudent policies. Resource-abundant countries are more likely to engender political states in which vested interests vie to capture resource surpluses (rents) at the expense of policycoherence. A longer dependence on primary product exports also delays industrialization, heightens income inequality, and retards skill accumulation. Fears of 'Dutch disease' encourage efforts to force industrialization through trade policy to protect infant industry. The resulting slow-maturing manufacturing sector demands transfers from the primary sector that outstrip the natural resource rents and sap the competitiveness of the economy.The chapters in this collection draw upon historical analysis and models to show that a growth collapse is not the inevitable outcome of resource abundance and that policy counts. Malaysia, a rare example of successful resource-abundant development, is contrasted with Ghana, Bolivia, Saudi Arabia, Mexico, and Argentina, which all experienced a growth collapse. The book also explores policies for reviving collapsed economies with reference to Costa Rica, South Africa, Russia and Central Asia. Itdemonstrates the importance of initial conditions to successful economic reform.
Author: R. M. Auty Publisher: Oxford University Press ISBN: 0199246882 Category : Business & Economics Languages : en Pages : 357
Book Description
Since the 1960s the per capita incomes of the resource-poor countries have grown significantly faster than those of the resource-abundant countries. In fact, in recent years economic growth has been inversely proportional to the share of natural resource rents in GDP, so that the small mineral-driven economies have performed least well and the oil-driven economies worst of all. Yet the mineral-driven resource-rich economies have high growth potential because the mineral exportsboost their capacity to invest and to import."Resource Abundance and Economic Development" explains the disappointing performance of resource-abundant countries by extending the growth accounting framework to include natural and social capital. The resulting synthesis identifies two contrasting development trajectories: the competitive industrialization of the resource-poor countries and the staple trap of many resource-abundant countries. The resource-poor countries are less prone to policy failure than the resource-abundant countriesbecause social pressures force the political state to align its interests with the majority poor and follow relatively prudent policies. Resource-abundant countries are more likely to engender political states in which vested interests vie to capture resource surpluses (rents) at the expense of policycoherence. A longer dependence on primary product exports also delays industrialization, heightens income inequality, and retards skill accumulation. Fears of 'Dutch disease' encourage efforts to force industrialization through trade policy to protect infant industry. The resulting slow-maturing manufacturing sector demands transfers from the primary sector that outstrip the natural resource rents and sap the competitiveness of the economy.The chapters in this collection draw upon historical analysis and models to show that a growth collapse is not the inevitable outcome of resource abundance and that policy counts. Malaysia, a rare example of successful resource-abundant development, is contrasted with Ghana, Bolivia, Saudi Arabia, Mexico, and Argentina, which all experienced a growth collapse. The book also explores policies for reviving collapsed economies with reference to Costa Rica, South Africa, Russia and Central Asia. Itdemonstrates the importance of initial conditions to successful economic reform.
Author: Sami Mahroum Publisher: Routledge ISBN: 1317338758 Category : Business & Economics Languages : en Pages : 353
Book Description
Economic diversification remains at the top of the agenda for hundreds of regions around the world. From the single commodity economies of African countries and the Caribbean, to the many single industry regions of Europe and North America, as well as the oil and gas rich but volatile hydrocarbon economies. Economic diversification policies have been around for almost a century with varying degrees of success and failure. Economic Diversification Policies in Natural Resource Rich Economies takes a special interest in the policy experiences of a set of different countries that have extractive industries representing significant drivers of their economies and subsequently are significant contributors to government revenues. It explores twelve cases including upper-middle to high income economies such as Canada, Australia, Iceland and Norway, emerging economies such as Latin America, the GCC (Saudi and UAE), Kazakhstan, Malaysia and Russia, as well as the developing economy of Uganda. Each chapter provides a review of economic diversification experiences including policy environment, diversification strategies, desired outcomes, the role of government, and a critical evaluation of achievements. This book is suitable for those who study environmental economics, development economics and resource management.
Author: Jeffrey R. Vincent Publisher: Harvard University Press ISBN: Category : Environmental policy Languages : en Pages : 448
Book Description
Malaysia interests development practitioners for many reasons, not least because of its remarkably rich natural environment. Environment and Development in a Resource-Rich Economy provides an invaluable analysis of major natural resource and environmental policy issues in the country during the 1970s and 1980s--a period of profound socioeconomic changes, rapid depletion of natural resources, and the emergence of serious air and water pollution problems. What is path-breaking about this book is its emphasis on economics as a source of concepts and methods for analyzing natural resource and environmental issues and policy responses. The authors' access to unpublished data and key decision makers makes this account of extensive, field-based research an essential reference for policy makers and researchers concerned about environmental and natural resource management--both in Malaysia and throughout the globe. The book should be of particular interest for students who hope to understand more thoroughly the economic underpinnings of natural resource and environmental management policy.
Author: Paul A. Haslam Publisher: Routledge ISBN: 1317418905 Category : Business & Economics Languages : en Pages : 259
Book Description
The Political Economy of Resources and Development offers a unique and multidisciplinary perspective on how the commodity boom of the mid-2000s reshaped the model of development throughout Latin America and elsewhere in the developing world. Governments increased taxes and royalties on the resource sector, the nationalization of foreign firms returned to the mainstream economic policy agenda, and public spending on social and developmental goals surged. These trends, often described as resource nationalism, have developed into a strategy for economic development, generated a re-imagining of the state and its institutional possibilities, and created a new but very significant political risk for extractive enterprises. However, these innovations, which constitute the most dramatic change in development policy in Latin America since the advent of neoliberalism, have so far received little attention from either academic or policy-oriented publications. This book explores the reasons behind these policies, and their effects on states, firms, and development trajectories. This text brings together renowned thematic experts to examine the political-economic causes of resource nationalism, as well as its manifestation in six Latin American countries. The causal variables considered by the contributors to this collection include a range of political-economic determinants of policy including commodity prices; the influence of ideology and national politics; ideas about industrial policy; relations between host governments and investors; and how countries respond to opportunities provided by regional initiatives and the new geography of the global economy. This volume is essential reading in development economics, political economy, and Latin American studies, as well as for those who want to understand what economic development means after neoliberalism.
Author: Richard Auty Publisher: Routledge ISBN: 1134867891 Category : Business & Economics Languages : en Pages : 306
Book Description
It is widely believed that natural mineral resources are desirable. However there is growing evidence that this may not always be the case. Indeed, it seems that natural assets can distort the economy to such a degree that the benefit actually becomes a curse. In Sustaining Development in Mineral Economies, Richard Auty highlights these drawbacks and the devastating effect they can have on developing economies. With reference to six ore-exporters (viz. Peru, Bolivia, Chile, Jamaica, Zambia and Papua New Guinea) he outlines how things can go badly wrong. He particularly stresses the need to avoid `Dutch Disease' whereby competitiveness is drained out of the agriculture and manufacturing sectors so that in the long term growth falters.
Author: Linda Hantrais Publisher: Routledge ISBN: 0429779313 Category : Business & Economics Languages : en Pages : 143
Book Description
Climate change and environmental degradation have intensified the pressures on crucial resources such as food and water security and air quality. In this collection, academic researchers and practitioners who have lived and worked in countries as geographically and culturally diverse as Brazil, China, India, Ghana, Palestine, Uganda and Venezuela draw on their wide-ranging international and inter-sectoral experience to offer valuable comparative insights into the relationship between research and evidence-based policy for sustaining natural resources. Their contributions provide a novel mix of disciplinary perspectives ranging across geography, ecology, social policy, the political economy, philosophy, international development, engineering technology, architecture and urban planning. They examine the institutions involved in generating and mediating evidence about the sustainability of natural resources in a changing environment, and the different methodologies employed in collecting and assessing evidence, informing policy and contributing to governance. The authors demonstrate not only that social science evidence on governance and policy implementation to sustain natural resources must complement natural science inputs, but also that local communities must be an integral part of any programme development. This book was originally published as a special issue of Contemporary Social Science.
Author: Elissaios Papyrakis Publisher: Routledge ISBN: 1351716360 Category : Business & Economics Languages : en Pages : 213
Book Description
There has been a lot of interest within the scientific and policy communities in the ‘resource curse’; that is, the tendency of mineral rich economies to turn into development failures. Yet, after more than 20 years of intensive research and action, ‘the curse’ still lingers as a very real global problem, because of volatile mineral prices, bad governance and conflict. This book incorporates current original research on the resource curse (from some of the most prominent contributors to this literature), combined with a critical reflection on the current stock of knowledge. It is a unique attempt to provide a more holistic and interdisciplinary picture of the resource curse and its multi-scale effects. This edited volume reflects the current academic diversity that characterises the resource curse literature with a mix of different methodological approaches (both quantitative and qualitative analyses) and a diverse geographical focus (Latin America, Sub-Saharan Africa, global). Taken together the studies emphasize the complexities and conditionalities of the ‘curse’ – its presence/intensity being largely context-specific, depending on the type of resources, socio-political institutions and linkages with the rest of the economy and society. This book was originally published as a special issue of the Journal of Development Studies.
Author: Giacomo Luciani Publisher: Springer Nature ISBN: 9811557284 Category : Political Science Languages : en Pages : 365
Book Description
This open access book questions the stereotype depicting all Gulf (GCC) economies as not sustainable, and starts a critical discussion of what these economies and polities should do to guarantee themselves a relatively stable future. Volatile international oil markets and the acceleration of the energy transition has challenged the notion that oil revenues are sufficient to sustain oil economies in the near to medium term. But what is the meaning of economic sustainability? The book discusses the multiple dimensions of the concept: economic diversification, continuing value of resources, taxation and fiscal development, labor market sustainability, sustainable income distribution, environmental sustainability, political order (democracy or authoritarianism) and sustainability, regional integration. The overarching message in this book is that we should move on from the simplistic branding of the Gulf economies as unsustainable and tackle the details of which adaptations they might need to undertake.
Author: R. M. Auty
Author: R. M. Auty
Author: Sami Mahroum
Author: Jeffrey R. Vincent
Author: Paul A. Haslam
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Author: Richard Auty
Author: Linda Hantrais
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Author: Elissaios Papyrakis
Author: Giacomo Luciani