Natural Resource Abundance Growth And Diversification In The Middle East And North Africa
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Author | : Ndiame' Diop |
Publisher | : World Bank Publications |
Total Pages | : 229 |
Release | : 2012-10-01 |
Genre | : Business & Economics |
ISBN | : 0821395920 |
MENA holds more than 60% of oil and nearly 50% of gas reserves, making its economy very vulnerable to price fluctuations. This volume investigates the effect of natural resources and the role of policies on achieving higher and sustained growth through economic diversification.
Author | : Indermit S. Gill |
Publisher | : World Bank Publications |
Total Pages | : 400 |
Release | : 2014-02-26 |
Genre | : Business & Economics |
ISBN | : 1464801207 |
Eurasian economies have to become efficient more productive, job-creating, and stable. But efficiency is not the same as diversification. Governments need to worry less about the composition of exports and production and more about asset portfolios natural resources, built capital, and economic institutions.
Author | : Mr.Hamid R Davoodi |
Publisher | : International Monetary Fund |
Total Pages | : 44 |
Release | : 2003-09-05 |
Genre | : Business & Economics |
ISBN | : 9781589062290 |
The Middle East and North Africa (MENA) is an economically diverse region. Despite undertaking economic reforms in many countries, and having considerable success in avoiding crises and achieving macroeconomic stability, the region’s economic performance in the past 30 years has been below potential. This paper takes stock of the region’s relatively weak performance, explores the reasons for this out come, and proposes an agenda for urgent reforms.
Author | : R. M. Auty |
Publisher | : Oxford University Press |
Total Pages | : 357 |
Release | : 2001-06-28 |
Genre | : Business & Economics |
ISBN | : 0199246882 |
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 | : |
Publisher | : |
Total Pages | : 300 |
Release | : 2003 |
Genre | : Computer network resources |
ISBN | : |
Author | : Daniel Lederman |
Publisher | : World Bank Publications |
Total Pages | : 153 |
Release | : 2012-06-18 |
Genre | : Business & Economics |
ISBN | : 0821384910 |
Does 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 | : Ian Bannon |
Publisher | : World Bank Publications |
Total Pages | : 432 |
Release | : 2003-01-01 |
Genre | : Nature |
ISBN | : 9780821355039 |
Research carried out by the World Bank on the root causes of conflict and civil war finds that a developing country's economic dependence on natural resources or other primary commodities is strongly associated with the risk level for violent conflict. This book brings together a collection of reports and case studies that explore what the international community in particular can do to reduce this risk.; The text explains the links between natural resources and conflict and examines the impact of resource dependence on economic performance, governance, secessionist movements and revel financing. It then explores avenues for international action - from financial and resource reporting procedures and policy recommendations to commodity tracking systems and enforcement instruments, including sanctions, certification requirements, aid conditionality, legislative and judicial instruments.
Author | : Daniel Lederman |
Publisher | : World Bank Publications |
Total Pages | : 396 |
Release | : 2006-10-23 |
Genre | : Nature |
ISBN | : 0821365460 |
'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.
Author | : Naazneen Barma |
Publisher | : World Bank Publications |
Total Pages | : 303 |
Release | : 2012 |
Genre | : Business & Economics |
ISBN | : 0821384805 |
Rents to Riches> focuses on the political economy of the detailed decisions that governments make at each step of the natural resource management (NRM) value chain. Many resource-dependent developing countries pursue seemingly shortsighted and suboptimal policies when extracting, taxing, and investing resource rents. The book contextualizes these micro-level outcomes with an emphasis on two central political economy dimensions: the degree to which governments can make credible intertemporal commitments to both resource developers and citizens, and the degree to which governments and inclined to turn resource rents into public goods. Almost 1.5 billion people live in the more than 50 World Bank client countries classified as resource-dependent. A detailed understanding of the way political economy characteristics affect the NRM decisions made in these countries by governments, extractive developers, and society can improve the design of interventions to support welfare-enhancing policy making and governance in the natural resource sectors. Featuring case study work from Africa (Angola, the Democratic Republic of Congo, Ghana, Niger, Nigeria), East Asia and Pacific (the Lao People's Democratic Republic, Mongolia, Timor-Leste), and Latin America and the Caribbean (Bolivia, Chile, Ecuador, Mexico, Trinidad an dTobago_, the book provides guidance for government clients, domestic stakeholders, and development partners committed to transforming natural resource into sustainable development riches.
Author | : Rabah Arezki |
Publisher | : |
Total Pages | : 275 |
Release | : 2011 |
Genre | : Law |
ISBN | : 9781616351458 |
Countries with an abundance of natural resources, many of which are in sub-Saharan Africa, often show a record of relatively poor economic performance compared with non-resource-rich countries. The chapters in this volume explore the potential challenges to countries with abundant natural resources and ways to manage these challenges so as to reap the benefits of resource wealth while avoiding the pitfalls. The book is divided into five sections, which explore commodity markets and the macroeconomy, economic diversification and the role of finance, fiscal policy, exchange rates and financial stability, and governance. The ideas in this book were first presented at a seminar in November 2010 that was aimed primarily at policymakers in sub-Saharan Africa and brought together ministers, central bank governors, other senior policymakers, and well-known academics.