Download or read book From Natural Resource Boom to Sustainable Economic Growth written by Pranav Gupta and published by International Monetary Fund. This book was released on 2015-04-30 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some resource-rich developing countries are in the process of harnessing immense mining resources towards inclusive growth and prosperity. Nevertheless, tapping into natural resources could be challenging given the large front-loaded investment, volatile capital flows and exposure to global commodity markets. Public investment is needed to remove the often-large infrastructure gap and unlock the economic potential. However, too rapid fiscal outlays could push the economy to its limit of absorptive capacity and increase macro-financial vulnerabilities. This paper utilizes a structural model-based approach to analyze macroeconomic impacts of different public investment strategies on key fiscal and non-fiscal variables such as debt, consumption, sovereign wealth fund, and real exchange rates. We apply the model to Mongolia and draw policy recommendations from the analysis. We find that fiscal policy adjustment, particularly moderating infrastructure investment and optimizing investment efficiency is needed to maintain macroeconomic and external stability, as well as to boost the long-term sustainable growth for Mongolia.

Download or read book Natural Resources and Economic Development written by Edward B. Barbier and published by Cambridge University Press. This book was released on 2019-09-19 with total page 451 pages. Available in PDF, EPUB and Kindle. Book excerpt: The second edition of this landmark book explores how natural resources contribute to development in poor economies.

Download or read book Natural Resources and Economic Development written by Edward Barbier and published by Cambridge University Press. This book was released on 2005 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive analysis of natural resource use and economic development in poor countries, first published in 2005.

Download or read book Natural Resources Neither Curse nor Destiny written by Daniel Lederman and published by World Bank Publications. This book was released on 2006-10-23 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: '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.

Download or read book Sustainable Development in Mineral Economies written by Richard M. Auty and published by Clarendon Press. This book was released on 1998 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses mineral economies in Botswana, Chile, Colombia, Indonesia, Jamaica, Namibia, Papua New Guinea, Peru, and Trinidad and Tobago.

Download or read book Development Policies in Natural Resource Economies written by Jörg Mayer and published by Edward Elgar Publishing. This book was released on 1999-05-26 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Decoupling Natural Resource Use and Environmental Impacts from Economic Growth written by United Nations Environment Programme. International Resource Panel and published by UNEP/Earthprint. This book was released on 2011 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: By 2050, humanity could devour an estimated 140 billion tons of minerals, ores, fossil fuels and biomass per year three times its current appetite unless the economic growth rate is decoupled from the rate of natural resource consumption. Developed countries citizens consume an average of 16 tons of those four key resources per capita (ranging up to 40 or more tons per person in some developed countries). By comparison, the average person in India today consumes four tons per year. With the growth of both population and prosperity, especially in developing countries, the prospect of much higher resource consumption levels is far beyond what is likely sustainable if realised at all given finite world resources, warns this report by UNEP's International Resource Panel. Already the world is running out of cheap and high quality sources of some essential materials such as oil, copper and gold, the supplies of which, in turn, require ever-rising volumes of fossil fuels and freshwater to produce. Improving the rate of resource productivity (doing more with less) faster than the economic growth rate is the notion behind decoupling, the panel says. That goal, however, demands an urgent rethink of the links between resource use and economic prosperity, buttressed by a massive investment in technological, financial and social innovation, to at least freeze per capita consumption in wealthy countries and help developing nations follow a more sustainable path.

Download or read book Scarcity and Growth written by Harold J. Barnett and published by Routledge. This book was released on 2013-10-18 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this classic study, the authors assess the importance of technological change and resource substitution in support of their conclusion that resource scarcity did not increase in the Unites States during the period 1870 to 1957. Originally published in 1963

Download or read book Andean States and the Resource Curse written by Gerardo Damonte and published by Routledge. This book was released on 2021-12-02 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume explores institutional change and performance in the resource-rich Andean countries during the last resource boom and in the early post-boom years. The latest global commodity boom has profoundly marked the face of the resource-rich Andean region, significantly contributing to economic growth and notable reductions of poverty and income inequality. The boom also constituted a period of important institutional change, with these new institutions sharing the potential of preventing or mitigating the maladies extractive economies tend to suffer from, generally denominated as the “resource curse”. This volume explores these institutional changes in the Andean region to identify the factors that have shaped their emergence and to assess their performance. The interdisciplinary and comparative perspective of the chapters in this book provide fine-grained analyses of different new institutions introduced in the Andean countries and discusses their findings in the light of the resource curse approach. They argue that institutional change and performance depend upon a much larger set of factors than those generally identified by the resource curse literature. Different, domestic and external, economic, political and cultural factors such as ideological positions of decision-makers, international pressure or informal practices have shaped institutional dynamics in the region. Altogether, these findings emphasize the importance of nuanced and contextualized analysis to better understand institutional dynamics in the context of extractive economies. This book will be of great interest to students and scholars of the extractive industries, natural resource management, political economics, Latin American studies and sustainable development. The Open Access version of this book, available at www.taylorfrancis.com, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.

Download or read book Beyond Growth written by Herman E. Daly and published by Beacon Press. This book was released on 1997-08-14 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Daly is turning economics inside out by putting the earth and its diminishing natural resources at the center of the field . . . a kind of reverse Copernican revolution in economics." --Utne Reader "Considered by most to be the dean of ecological economics, Herman E. Daly elegantly topples many shibboleths in Beyond Growth. Daly challenges the conventional notion that growth is always good, and he bucks environmentalist orthodoxy, arguing that the current focus on 'sustainable development' is misguided and that the phrase itself has become meaningless." --Mother Jones "In Beyond Growth, . . . [Daly] derides the concept of 'sustainable growth' as an oxymoron. . . . Calling Mr. Daly 'an unsung hero,' Robert Goodland, the World Bank's top environmental adviser, says, 'He has been a voice crying in the wilderness.'" --G. Pascal Zachary, The Wall Street Journal "A new book by that most far-seeing and heretical of economists, Herman Daly. For 25 years now, Daly has been thinking through a new economics that accounts for the wealth of nature, the value of community and the necessity for morality." --Donella H. Meadows, Los Angeles Times "For clarity of vision and ecological wisdom Herman Daly has no peer among contemporary economists. . . . Beyond Growth is essential reading." --David W. Orr, Oberlin College "There is no more basic ethical question than the one Herman Daly is asking." --Hal Kahn, The San Jose Mercury News "Daly's critiques of economic orthodoxy . . . deliver a powerful and much-needed jolt to conventional thinking." --Karen Pennar, Business Week Named one of a hundred "visionaries who could change your life" by the Utne Reader,Herman Daly is the recipient of many awards, including a Grawemeyer Award, the Heineken Prize for environmental science, and the "Alternative Nobel Prize," the Right Livelihood Award. He is professor at the University of Maryland's School of Public Affairs, and coauthor with John Cobb, Jr., of For the Common Good.

Download or read book Rents to Riches written by Naazneen Barma and published by World Bank Publications. This book was released on 2011-12-08 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume focuses on the political economy surrounding the detailed decisions that governments make at each step of the value chain for natural resource management. From the perspective of public interest or good governance, many resource-dependent developing countries pursue apparently short-sighted and sub-optimal policies in relation to the extraction and capture of resource rents, and to spending and savings from their resource endowments. This work contextualizes these micro-level choices and outcomes.

Download or read book Resource Abundance and Economic Development written by R. M. Auty and published by Oxford University Press. This book was released on 2001-06-28 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Natural Resources written by Jeanette B. Pauling and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Natural resources' are naturally occurring substances that are considered valuable in their relatively unmodified (natural) form. A natural resource's value rests in the amount of the material available and the demand for it. There are 2 types of natural resources: renewable and non-renewable. Natural Resources include soil, timber, oil, minerals, and other goods taken more or less from the Earth. Both extraction of the basic resource and refining it into a purer, directly usable form, (e.g., metals, refined oils) are generally considered natural-resource activities, even though the latter may not necessarily occur near the former. A nation's natural resources often determine its wealth in the world economic system. In recent years, the depletion of natural capital and attempts to move to sustainable development have been a major focus of development agencies. This is of particular concern in rainforest regions, which hold most of the Earth's natural biodiversity -- irreplaceable genetic natural capital. Conservation of natural resources is the major focus of natural capitalism, environmentalism, the ecology movement, and Green Parties. Some view this depletion as a major source of social unrest and conflicts in developing nations. This book gathers and presents important research in the field.

Download or read book Resource Abundance and Economic Development written by R. M. Auty and published by OUP Oxford. This book was released on 2001-06-28 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 likely to engender political states in which vested interests vie to capture resource surpluses (rents) at the expense of policy coherence. 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. It demonstrates the importance of initial conditions to successful economic reform.

Download or read book Natural Resource Booms in the Modern Era written by Mr.Andrew M. Warner and published by International Monetary Fund. This book was released on 2015-11-12 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global boom in hydrocarbon, metal and mineral prices since the year 2000 created huge economic rents - rents which, once invested, were widely expected to promote productivity growth in other parts of the booming economies, creating a lasting legacy of the boom years. This paper asks whether this has happened. To properly address this question the empirical strategy must look behind the veil of the booming sector because that, by definition, will boom in a boom. So the paper considers new data on GDP per person outside of the resource sector. Despite having vast sums to invest, GDP growth per-capita outside of the booming sectors appears on average to have been no faster during the boom years than before. The paper finds no country in which (non-resource) growth per-person has been statisticallysignificantly higher during the boom years. In some Gulf states, oil rents have financed a migration-facilitated economic expansion with small or negative productivity gains. Overall, there is little evidence the booms have left behind the anticipated productivity transformation in the domestic economies. It appears that current policies are, overall, prooving insufficient to spur lasting development outside resource intensive sectors.

Download or read book Optimal Economic Growth with Exhaustible Resources written by Prem C. Garg and published by Routledge. This book was released on 2017-10-17 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1979. For decades conservationists have argued that increasing population will eventually out-strip the limited natural resources of the earth. Economists have responded by saying that any resource scarcity will be forestalled by changes in tastes and technology, induced by the appropriate price signals. This study is an attempt to develop a theoretical framework for analysing some of the issues related to this debate. Using an optimal growth theory framework, the author analyses the problem of optimally allocating a finite stock of the resource over time. In the process the author points out the crucial parameters and value judgments relevant to the various issues. This title will be of interest to students of environmental economics.

Download or read book Beyond Uneconomic Growth written by Joshua Farley and published by Edward Elgar Publishing. This book was released on 2016 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Daly's contributions to the still emergent field of ecological economics are constant references for our peers throughout the developing world as well as in the North. His courageous tilting at the windmills of mainstream economic nonsense inspire us to continue questioning: in whose interests do we continue on a perpetual search for unlimited material satisfaction? Daly's conception is not only of a world restricted by biophysical limits, but also one in which poverty and deprivation are commonplace, and where Sisyphean efforts to maintain accelerated economic growth only exacerbate inequitable distribution. His vision of sustainable economic welfare shed light on other aspects of our existence which make it worth living. Thanks to Farley, Rees, El Serafy, Goodland and other fellow travelers, we are bestowed with an excellent collection synthesizing Daly's contributions to our work, which will inspire our youth and their children long after we too depart.' - Peter H. May, President, Brazilian Society for Ecological Economics (ECOECO) 'Contributed by several eminent thinkers, the chapters in this book herald the paradigm shift that is needed to save the scientific framework of economics. In spite of the conceptual inconsistencies, GDP continues to be accepted by the nation states as the singular parameter to comprehensively describe the health of their economy. What gets easily hidden behind 'Market Failures ' is actually the success of cost-shifting on the heads of the ignorant and marginalized people as 'price for economic growth'. The chapters eloquently establish the need for moving beyond the religious faith on a paradigm that is facing fundamental conceptual challenges but has not addressed them with due seriousness. What is a greater contribution of this collection is the identification of the gaps in knowledge of economics that need to be filled-up to arrive at some basic articulations of the new paradigm that can throw some light on what is ecologically and socially 'Sustainable Development'.' - Jayanta Bandyopadhyay, Past President, The Indian Society for Ecological Economics 'The title Beyond Uneconomic Growthcaptures both the core of Herman Daly's key message and the linguistic mastery that makes his texts so enjoyable to read. The book forms a great tribute to the work of Herman Daly by gathering a distinguished set of contributors, covering a a wide variety of the topics that Daly has dealt with, and pointing in new directions.' - Inge Røpke, Aalborg University, Denmark This engaging book brings together leading ecological economists to collectively present a definitive case for looking beyond economic growth as the sole panacea for the world's ecological predicament. Grounded in physics, ecology, and the science of human behavior, contributors show how economic growth itself has become ''uneconomic'' and adds to a ravaging of both social and ecological cohesion. Guided by a clear moral vision that prioritizes sustainability and justice over profit, the authors provide a blueprint for an economy that replaces quantitative growth with qualitative improvement to enhance human welfare while restoring degraded ecosystems. They present solutions for many of today's challenges, ranging from global climate change and biodiversity loss to natural resource depletion. This interdisciplinary work not only relates ecological economics theory to the most urgent predicaments of the contemporary world, but also pays tribute to the work of Herman Daly, a leading pioneer of modern ecological economics. Researchers and faculty studying and teaching ecological economics and environmental studies will find value in this unprecedented book. It will also be of interest to practitioners working to solve a variety of global environmental issues.