Oil-boom and Deindustrialization in a Resource Rich Transition Economy
Author: Samir Bakhshaliev
Publisher:
Published: 2003
Total Pages:
ISBN-13:
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Author: Samir Bakhshaliev
Publisher:
Published: 2003
Total Pages:
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DOWNLOAD EBOOKAuthor: Christa N. Brunnschweiler
Publisher:
Published: 2009
Total Pages:
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DOWNLOAD EBOOKAuthor: R. M. Auty
Publisher: Oxford University Press
Published: 2001-06-28
Total Pages: 357
ISBN-13: 0199246882
DOWNLOAD EBOOKSince 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: International Monetary Fund
Publisher: International Monetary Fund
Published: 2016-04-29
Total Pages: 41
ISBN-13: 1498345697
DOWNLOAD EBOOKcountries face similar challenges to create jobs and foster more inclusive growth. The current environment of likely durable low oil prices has exacerbated these challenges. The non-oil private sector remains relatively small and, consequently, has been only a limited source of growth and employment. Because oil is an exhaustible resource, new sectors need to be developed so they can take over as the oil and gas industry dwindles. Over-reliance on oil also exacerbates macroeconomic volatility. Greater economic diversification would unlock job-creating growth, increase resilience to oil price volatility and improve prospects for future generations. Macro-economic stability and supportive regulatory and institutional frameworks are key prerequisites for economic diversification...
Author: Todd Moss
Publisher: CGD Books
Published: 2015-06-10
Total Pages: 190
ISBN-13: 1933286695
DOWNLOAD EBOOKOil to Cash explores one option to help countries with new oil revenue avoid the so-called resource curse: just give the money directly to citizens. A universal, transparent, and regular cash transfer would not only provide a concrete benefit to regular people, but would also create powerful incentives for citizens to hold their government accountable. Oil to Cash details how and where this idea could work and how policymakers can learn from the experiences with cash transfers in places like Mexico, Mongolia, and Alaska.
Author: Daniel Lederman
Publisher: World Bank Publications
Published: 2012-06-18
Total Pages: 153
ISBN-13: 0821384910
DOWNLOAD EBOOKDoes what economies export matter for development? If so, can industrial policies improve on the export basket generated by the market? This book approaches these questions from a variety of conceptual and policy viewpoints. Reviewing the theoretical arguments in favor of industrial policies, the authors first ask whether existing indicators allow policy makers to identify growth-promoting sectors with confidence. To this end, they assess, and ultimately cast doubt upon, the reliability of many popular indicators advocated by proponents of industrial policy. Second, and central to their critique, the authors document extraordinary differences in the performance of countries exporting seemingly identical products, be they natural resources or 'high-tech' goods. Further, they argue that globalization has so fragmented the production process that even talking about exported goods as opposed to tasks may be misleading. Reviewing evidence from history and from around the world, the authors conclude that policy makers should focus less on what is produced, and more on how it is produced. They analyze alternative approaches to picking winners but conclude by favoring 'horizontal-ish' policies--for instance, those that build human capital or foment innovation in existing and future products—that only incidentally favor some sectors over others.
Author: Elkhan Richard Sadik-Zada
Publisher: Logos Verlag Berlin GmbH
Published: 2016-11-07
Total Pages: 184
ISBN-13: 3832543422
DOWNLOAD EBOOKThis book deals with the role of oil abundance in economic growth. The major theoretical contribution of the analysis is the transformation of the rentier state theory into the language of mathematical economics. The mathematical formalization of the rentier state theory enables a more sophisticated analytical tool for the assessment of the role of nonrenewable resource revenues in economic growth and institutional dynamics. The embedding of the elements of a rentier state into the labor surplus economy framework leads to grave consequences as reflected in the quantitative part of the survey. The augmented labor surplus economy model shows that both the political economy and the purely economic causes of the resource curse can have similar effects on the resource allocation in the affected nation. Hence, it is not possible to use econometric tools to compartmentalize the effects of the Dutch disease and those explanations based upon political economy. This is the reason why one can only estimate the total growth effects of oil revenues. Besides cross-country panel estimations, a case study of Azerbaijan provides additional insights into petroleum based economic development. These international panel and country specific estimations are partly based on the two sector model of economic growth. In the case of Azerbaijan, a vector error correction model, which is based upon the behavioral model of the equilibrium exchange rate, is applied to detect the Dutch disease tendencies.
Author: Mr.Ramana Ramaswamy
Publisher: International Monetary Fund
Published: 1997-04-01
Total Pages: 39
ISBN-13: 1451975821
DOWNLOAD EBOOKAll advanced economies have experienced a secular decline in the share of manufacturing employment—a phenomenon referred to as deindustrialization. This paper argues that, contrary to popular perceptions, deindustrialization is not a negative phenomenon, but is the natural consequence of the industrial dynamism in an already developed economy, and that North-South trade has had very little to do with deindustrialization. The paper also discusses the implications of deindustrialization for the growth prospects and the nature of labor market arrangements in the advanced economies.
Author: Daniel Scholten
Publisher: Edward Elgar Publishing
Published: 2023-11-03
Total Pages: 577
ISBN-13: 1800370431
DOWNLOAD EBOOKThe energy transition is fundamentally transforming geopolitics, with renewable energy and other decarbonization options reshaping existing energy markets, trade flows, and energy security strategies. What new opportunities and challenges await us? Will it pacify global energy relations or bring a perilous transition?
Author: Daniel Lederman
Publisher: World Bank Publications
Published: 2006-10-23
Total Pages: 396
ISBN-13: 0821365460
DOWNLOAD EBOOK'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.