By Marc Badia-Miró, Vicente Pinilla, Henry Willebald
The courting among ordinary capital and monetary progress is an open debate within the box of financial improvement. Is an abundance of traditional assets a blessing or a curse for financial functionality? the sector of monetary background deals an outstanding vantage to discover the relevance of associations, technical growth and supply-demand drivers.
Natural assets and monetary progress contains theoretical and empirical articles by means of prime students who've studied this topic in several ancient classes from the 19th century to the current day and in numerous elements of the realm. half I provides the theoretical matters and discusses the that means of the "curse" and the relevance of the historic standpoint. half II captures the range of reports, providing 13 self sufficient case reviews in keeping with historic effects from North and South the USA, Africa, Asia, Oceania and Europe.
This e-book emphasizes that an abundance of ordinary assets isn't really a hard and fast scenario. it's a strategy that reacts to alterations within the constitution of commodity costs and issue endowments, and development calls for capital, labour, technical switch and applicable institutional preparations. This abundance isn't really a given, yet is a part of the evolution of the commercial procedure. heritage exhibits that institutional caliber is the major issue to house ample traditional assets and, specifically, with the rents derived from their use and exploitation.
This large ranging quantity could be of serious relevance to all people with an curiosity in financial historical past, improvement, monetary development, usual assets, global historical past and institutional economics.
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Extra info for Natural Resources and Economic Growth: Learning from History
The Political Economy of Growth. New York: Monthly Review Press. , 2005. Natural Resources and Economic Development. Cambridge, MA: Cambridge University Press. , 2007. Frontiers and sustainable economic development. Environmental and Resource Economics, 37 (1), 271–295. , 2011. Scarcity and Frontiers: How Economies Have Developed through Natural Resource Exploitation. New York: Cambridge University Press. Introduction: what can we learn from history? , 2015. Scarcity, frontiers and the resource curse: a historical perspective.
Journal of Environmental Economics and Management, 55 (3), 248–264. , Damania, R. , 2005. Resource intensity, institutions, and development. World Development, 33 (7), 1029–1044. , Pinilla, V. , 2015. Water scarcity and agricultural growth in Spain: from curse to blessing? In: M. Badia-Miró, V. Pinilla and H. Willebald, eds. Natural Resources and Economic Growth: Learning from History. London: Routledge. J. , 1966. Primary products and economic growth: an empirical measurement. Journal of Political Economy, 74 (4), 315–332.
2 The Dutch disease and volatility of natural resource prices A resource price boom or windfall may lead initially to an expansion of the export sector. Nevertheless, the impact on the economy as a whole is uncertain. A real appreciation of the rest of the economy is observed (Corden 1984) when some of these windfall earnings are spent in the country (directly or indirectly through the state). In addition, increases in labour productivity in a booming export sector pull the work force and attract economic resources away from other economic sectors.
Natural Resources and Economic Growth: Learning from History by Marc Badia-Miró, Vicente Pinilla, Henry Willebald