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Resource Abundance and Economic Development (W I D E R Studies in Development Economics) by R. M Auty; World Institute for Development Economics Research is a book available to read on EtoBox.

What is Resource Abundance and Economic Development (W I D E R Studies in Development Economics) about?

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 li

Author

R. M Auty; World Institute for Development Economics Research

Publisher

OUP Oxford

Published

2001

Language

EN

ISBN

9780191529931

Subjects

Business, Economics

Updated

2026-03-24