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Author: Marc Badia-Miró
Publisher: Routledge
ISBN: 1317669193
Category : Business & Economics
Languages : en
Pages : 395
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Book Description
The relationship between natural capital and economic growth is an open debate in the field of economic development. Is an abundance of natural resources a blessing or a curse for economic performance? The field of Economic History offers an excellent vantage to explore the relevance of institutions, technical progress and supply-demand drivers. Natural Resources and Economic Growth contains theoretical and empirical articles by leading scholars who have studied this subject in different historical periods from the 19th century to the present day and in different parts of the world. Part I presents the theoretical issues and discusses the meaning of the "curse" and the relevance of the historical perspective. Part II captures the diversity of experiences, presenting thirteen independent case studies based on historical results from North and South America, Africa, Asia, Oceania and Europe. This book emphasizes that an abundance of natural resources is not a fixed situation. It is a process that reacts to changes in the structure of commodity prices and factor endowments, and progress requires capital, labour, technical change and appropriate institutional arrangements. This abundance is not a given, but is part of the evolution of the economic system. History shows that institutional quality is the key factor to deal with abundant natural resources and, especially, with the rents derived from their use and exploitation. This wide ranging volume will be of great relevance to all those with an interest in economic history, development, economic growth, natural resources, world history and institutional economics.
Author: Edward Barbier
Publisher: Cambridge University Press
ISBN: 9780521706513
Category : Business & Economics
Languages : en
Pages : 438
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Book Description
A comprehensive analysis of natural resource use and economic development in poor countries, first published in 2005.
Author: Marc Badia-Miró
Publisher: Routledge
ISBN: 1317669193
Category : Business & Economics
Languages : en
Pages : 395
Get Book Here
Book Description
The relationship between natural capital and economic growth is an open debate in the field of economic development. Is an abundance of natural resources a blessing or a curse for economic performance? The field of Economic History offers an excellent vantage to explore the relevance of institutions, technical progress and supply-demand drivers. Natural Resources and Economic Growth contains theoretical and empirical articles by leading scholars who have studied this subject in different historical periods from the 19th century to the present day and in different parts of the world. Part I presents the theoretical issues and discusses the meaning of the "curse" and the relevance of the historical perspective. Part II captures the diversity of experiences, presenting thirteen independent case studies based on historical results from North and South America, Africa, Asia, Oceania and Europe. This book emphasizes that an abundance of natural resources is not a fixed situation. It is a process that reacts to changes in the structure of commodity prices and factor endowments, and progress requires capital, labour, technical change and appropriate institutional arrangements. This abundance is not a given, but is part of the evolution of the economic system. History shows that institutional quality is the key factor to deal with abundant natural resources and, especially, with the rents derived from their use and exploitation. This wide ranging volume will be of great relevance to all those with an interest in economic history, development, economic growth, natural resources, world history and institutional economics.
Author: R. M. Auty
Publisher: Oxford University Press
ISBN: 0199246882
Category : Business & Economics
Languages : en
Pages : 357
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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: Paul A. Haslam
Publisher: Routledge
ISBN: 1317418905
Category : Business & Economics
Languages : en
Pages : 259
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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: Jörg Mayer
Publisher: Edward Elgar Publishing
ISBN: 9781782541295
Category : Business & Economics
Languages : en
Pages : 240
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Book Description
An examination of the factors that influence economic growth and sustainable development in countries with a significant natural resource sector. It looks at how to make the primary sector sufficiently productive to provide for investment in both itself and other sectors of the economy.
Author: Arsenio Balisacan
Publisher: Academic Press
ISBN: 0128004169
Category : Business & Economics
Languages : en
Pages : 532
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Book Description
Sustainable Economic Development: Resources, Environment, and Institutions presents 25 articles that lay the foundations of sustainable development in a way that facilitates effective policy design. The editors mix broad thematic papers with focused micro-papers, balancing theories with policy designs.The book begins with two sections on sustainable development principles and practice and on specific settings where sustainable development is practiced. Two more sections illuminate institutions, governance, and political economy. Additional sections cover sustainable development and agriculture, and risk and economic security, including disaster management. This rich source of information should appeal to any institution involved in development work, and to development practitioners grappling with an array of difficult on-the-ground developmental challenges. - Analyzes policies that move markets and resource use patterns towards achieving sustainability - Articles are kaleidoscopic in scope and creativity - Authors embody extraordinary diversity and qualifications
Author: Ayuk, Elias T.
Publisher: United Nations University Institute for Natural Resourc
ISBN: 9988633092
Category : Nature
Languages : en
Pages : 283
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Book Description
Most African national economies depend on the exploitation of both renewable and non-renewable natural resources for development. Conventional and unconventional exploitation of natural resources has left negative carbon footprints. This has also degraded hotspots across the African continent, impacting negatively on people and the environment. A Green Economy offers the continent the opportunity to achieve sustained economic development devoid of environmental degradation and inefficient utilisation of natural resources. This book, Promoting Green Economy, explores issues affecting the socio-economic development of the continent and focuses on Africa’s need for a green economy. With chapters written by seasoned authors from academia and industry across the continent, the book examines the challenges of sustainable management of Africa’s natural resources and recommends the need for the continent to transit towards green economy as this can provide opportunities for minimising environmental footprints of all economic activities. The book calls on the commitment of the public and private sectors to the development of appropriate green economy policies and regulatory frameworks to promote inclusive growth.
Author: Fonjong, Lotsmart
Publisher: Langaa RPCIG
ISBN: 9956551244
Category : Business & Economics
Languages : en
Pages : 364
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Book Description
Cameroon is rich in petroleum, minerals, tropical forests, wildlife, water systems, fertile lands, and much more. Paradoxically however, most citizens live in abject poverty and without jobs, potable water, electricity, good healthcare and roads. This book is a thoughtful interrogation of some of the structural factors driving persistent poverty in Cameroon in the midst of natural resource abundance. It engages in a multidimensional critical analysis of the impact of natural resources on basic development indicators and concludes that good resource governance and sound management are the missing link. Natural resources alone will not create socio-economic prosperity void of good management with a clear development vision and strategy in Cameroon. The book assembles a wide diversity of analysis, views, perspectives and recommendations from economists, development experts, social and political scientists, on Cameroon’s current development inertia. What emerges in the end is a coherent interdisciplinary analysis of the natural resource-development paradox as it plays out in an African setting. Theories and good practices from Africa and beyond are systematically applied to identify and critique present policy and management approaches while providing alternative options that can unlock Cameroon’s natural resource wealth for national prosperity.
Author: Sevil Acar
Publisher: Springer
ISBN: 1137587237
Category : Business & Economics
Languages : en
Pages : 250
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Book Description
This book examines the paradox that resource-rich countries often struggle to manage their resources in a way that will help their economies thrive. It looks at how a country's political regime and quality of governance can determine the degree to which it benefits - or suffers - from having natural resources, shifting away from the traditional focus on economic growth data to study the complex implications of these resources for human well-being and sustainable development. To this end, Acar examines a panel of countries in terms of the effects of their natural resources on human development and genuine saving, which is a sustainability indicator that takes into account the welfare of future generations by incorporating the changes in different kinds of capital. Acar finds that the exportation of agricultural raw materials is associated with significant deterioration in human development, while extractive resource exports, such as energy and minerals, have negative implications for genuine savings. Next, the book compares the development path of Norway before and after discovering oil, contrasting it with Sweden's development. The two countries, which followed almost identical paths until the 1970s, diverged significantly in terms of per capita income after Norway found oil.
Author: Daniel Lederman
Publisher: World Bank Publications
ISBN: 0821365460
Category : Nature
Languages : en
Pages : 396
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Book Description
'Natural Resources: Neither Course nor Destiny' brings together a variety of analytical perspectives, ranging from econometric analyses of economic growth to historical studies of successful development experiences in countries with abundant natural resources. The evidence suggests that natural resources are neither a curse nor destiny. Natural resources can actually spur economic development when combined with the accumulation of knowledge for economic innovation. Furthermore, natural resource abundance need not be the only determinant of the structure of trade in developing countries. In fact, the accumulation of knowledge, infrastructure, and the quality of governance all seem to determine not only what countries produce and export, but also how firms and workers produce any good.
