Resource Abundance And Economic Development
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Resource Abundance And Economic Development
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Author : Richard M. Auty
language : en
Publisher:
Release Date : 1998
Resource Abundance And Economic Development written by Richard M. Auty and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Commercial policy categories.
Resource Abundance And Economic Development
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Author : R. M. Auty
language : en
Publisher: OUP Oxford
Release Date : 2001-06-28
Resource Abundance And Economic Development written by R. M. Auty and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-06-28 with Business & Economics categories.
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 exports boost 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 countries because 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 policy coherence. 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. It demonstrates the importance of initial conditions to successful economic reform.
Economic Growth And Financial Development
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Author : Muhammad Shahbaz
language : en
Publisher: Springer Nature
Release Date : 2021-09-21
Economic Growth And Financial Development written by Muhammad Shahbaz and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-09-21 with Business & Economics categories.
This book looks into the relationship between financial development, economic growth, and the possibility of a potential capital flight in the transmission process. It also examines the important role that financial institutions, financial markets, and country-level institutional factors play in economic growth and their impact on capital flight in emerging economies. By presenting new theoretical insights and empirical country studies as well as econometric approaches, the authors focus on the relationship between financial development and economic growth with capital flight in the era of financial crisis. Therefore, this book is a must-read for researchers, scholars, and policy-makers, interested in a better understanding of economic growth and financial development of emerging economies alike.
Natural Resource Abundance And Economic Growth In A Two Country World
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Author :
language : en
Publisher:
Release Date : 2005
Natural Resource Abundance And Economic Growth In A Two Country World written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Economic development categories.
Waste To Wealth
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Author : Peter Lacy
language : en
Publisher: Springer
Release Date : 2016-04-30
Waste To Wealth written by Peter Lacy and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-30 with Business & Economics categories.
Waste to Wealth proves that 'green' and 'growth' need not be binary alternatives. The book examines five new business models that provide circular growth from deploying sustainable resources to the sharing economy before setting out what business leaders need to do to implement the models successfully.
Resource Abundance And Economic Development
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Author : Richard M. Auty
language : en
Publisher: Oxford University Press on Demand
Release Date : 2004
Resource Abundance And Economic Development written by Richard M. Auty and has been published by Oxford University Press on Demand this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business & Economics categories.
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 exports boost 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 failurethan the resource-abundant countries because 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 policy coherence. 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 ofsuccessful 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. It demonstrates the importance of initial conditions to successful economic reform.
The Economics Of Abundance
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Author : Brendan Sheehan
language : en
Publisher: Edward Elgar Publishing
Release Date : 2010-01-01
The Economics Of Abundance written by Brendan Sheehan and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-01-01 with Business & Economics categories.
This book addresses the challenge posed by J.K. Galbraith over fifty years ago to make a constructive contribution to a different style of economic analysis - the economics of abundance. It identifies a system of abundance inhabited by the ?people of plenty? and illustrates that the driver of growth in this system is spending by affluent consumers. This timely book provides essential heterodox economic theory to explain this spending and explore its key drivers and constraints.
Natural Resource Abundance And Economic Growth
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Author : Jeffrey Sachs
language : en
Publisher:
Release Date : 1995
Natural Resource Abundance And Economic Growth written by Jeffrey Sachs and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Economic development categories.
One of the surprising features of modern economic growth is that economies with abundant natural resources have tended to grow less rapidly than natural-resource-scarce economies. In this paper we show that economies with a high ratio of natural resource exports to GDP in 1971 (the base year) tended to have low growth rates during the subsequent period 1971-89. This negative relationship holds true even after controlling for variables found to be important for economic growth, such as initial per capita income, trade policy, government efficiency, investment rates, and other variables. We explore the possible pathways for this negative relationship by studying the cross-country effects of resource endowments on trade policy, bureaucratic efficiency, and other determinants of growth. We also provide a simple theoretical model of endogenous growth that might help to explain the observed negative relationship.
The Geography Of Economic Development
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Author : Jeffrey Sachs
language : en
Publisher:
Release Date : 2000
The Geography Of Economic Development written by Jeffrey Sachs and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Business & Economics categories.