Natural Resources Neither Curse Nor Destiny
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Natural Resources
Author: Daniel Lederman
language: en
Publisher: Stanford University Press
Release Date: 2007
For almost as long as economics has been a profession, the role of natural resources in the promotion of economic growth has been among the core issues of development theory. Some newer theories suggest that natural riches produce institutional weaknesses as various social groups attempt to capture the economic rents derived from the exploitation of natural resources. Since the 1960s, some analysts have argued that resource-rich developing countries have grown more slowly than other developing countries. Nevertheless, we find ourselves in a time when conventional wisdom again postulates that natural resources are indeed riches. This book 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 how firms and workers produce any good.
The Political Economy of Natural Resources and Development
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.
Governing Natural Resources for Africa’s Development
Bringing together some of the world’s leading thinkers and policy experts in the area of natural resource governance and management in Africa, this volume addresses the most critical policy issues affecting the continent’s ability to manage and govern its precious resources. The narrative of the book is solutions-driven, as experts weigh on specific issues within the context of Africa’s natural resource governance and offer appropriate policy recommendations on how to best manage the continent’s resources. This is a must-read for government policy makers in industrialized economies and, more importantly, in Africa and emerging economies, as well as for academic researchers working in the field, extractive companies operating on the continent, extractive industry and trade associations, and multilateral and donor aid institutions.