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Author : Warner Max Corden
Publisher :
ISBN 13 : 9780868310794
Total Pages : 37 pages
Book Rating : 4.3/5 (17 download)
Download or read book Booming Sector and Dutch Disease Economics written by Warner Max Corden and published by . This book was released on 1982 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Daniel Lederman
Publisher : World Bank Publications
ISBN 13 : 0821365460
Total Pages : 396 pages
Book Rating : 4.8/5 (213 download)
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.
Author : Alan H. Gelb
Publisher : Oxford University Press
ISBN 13 : 9780195207743
Total Pages : 376 pages
Book Rating : 4.2/5 (77 download)
Download or read book Oil Windfalls written by Alan H. Gelb and published by Oxford University Press. This book was released on 1988 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book assesses the full impact of oil windfalls on six developing producer countries - Algeria, Ecuador, Indonesia, Nigeria, Trinidad and Tobago, and Venezuela. This is the first time that the issue has been systematically analysed and related to economics policies and underlying macroeconomic characteristics. The book adopts a broad approach, blending institutional and political aspects with quantitative analysis which includes the results of sophisticated model simulations. It presents new information on how oil discoveries have been used by producer governments, and analyses of the consequences. Finally it concludes that much of the potential benefit to producers has been dissipated, and explains why producers may actually end up worse off despite revenue gains.
Author : Musa Jega Ibrahim
Publisher : BoD – Books on Demand
ISBN 13 : 9535135295
Total Pages : 101 pages
Book Rating : 4.5/5 (351 download)
Download or read book Emerging Issues in Economics and Development written by Musa Jega Ibrahim and published by BoD – Books on Demand. This book was released on 2017-09-13 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economics is about understanding the rational behaviour of economic agents (households, firms, industries and government) in their decisions to achieve best outcomes of their goals and aspirations. They collectively converge to achieve the utmost economic and social benefits for all in the country in terms of economic growth and development. Economic growth and development occur through efficient use of available resources to meet effective demand and social needs. The challenge that countries are facing is proper application of appropriate policy mix to optimize the opportunities of increasingly interdependent global economic landscape. For emerging economies, a multiple sector strategy that propels economic transformation is crucial. This needs to be predicated on robust macroeconomic policy framework that aligns with global production and consumption activities to drive economic growth process for achieving sustainable development.
Author : International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
ISBN 13 : 1498340008
Total Pages : 104 pages
Book Rating : 4.4/5 (983 download)
Download or read book Macroeconomic Policy Frameworks for Resource-Rich Developing Countries--Analytic Frameworks and Applications written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2012-08-24 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: This supplement presents the analytical frameworks underlying the IMF’s staff’s enhanced policy analysis and advice to resource-rich developing countries (RRDCs). The proposed macro-fiscal models, which are applied to selected country or regional cases, are aimed at addressing questions regarding how to deal with resource revenue uncertainty and how to scale up spending within relevant frameworks that ensure fiscal and external sustainability while addressing absorptive capacity constraints. The country applications confirm the importance attached by both IMF staff and country authorities of using the appropriate macro-fiscal frameworks to address the specific challenges faced by RRDCs.
Author : P. Thandika Mkandawire
Publisher : IDRC
ISBN 13 : 155250204X
Total Pages : 192 pages
Book Rating : 4.5/5 (525 download)
Download or read book Our Continent, Our Future written by P. Thandika Mkandawire and published by IDRC. This book was released on 2014-05-14 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: Our Continent, Our Future presents the emerging African perspective on this complex issue. The authors use as background their own extensive experience and a collection of 30 individual studies, 25 of which were from African economists, to summarize this African perspective and articulate a path for the future. They underscore the need to be sensitive to each country's unique history and current condition. They argue for a broader policy agenda and for a much more active role for the state within what is largely a market economy. Finally, they stress that Africa must, and can, compete in an increasingly globalized world and, perhaps most importantly, that Africans must assume the leading role in defining the continent's development agenda.
Author : R. M. Auty
Publisher : Oxford University Press
ISBN 13 : 0199246882
Total Pages : 357 pages
Book Rating : 4.1/5 (992 download)
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.
Author : Kareem Ismail
Publisher : International Monetary Fund
ISBN 13 : 145520062X
Total Pages : 38 pages
Book Rating : 4.4/5 (552 download)
Download or read book The Structural Manifestation of the ‘Dutch Disease’ written by Kareem Ismail and published by International Monetary Fund. This book was released on 2010-04-01 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study derives structural implications of the Dutch disease in oil-exporting countries due to permanent oil price shocks from a typical model. We then test these implications in manufacturing sector data across a wide group of countries including oil-exporters covering 1977 to 2004. The results on oil-exporting countries are four folds. First, we find that permanent increases in oil price negatively impact output in manufacturing as consistent with the Dutch disease. Second, Evidence in the data shows that oil windfall shocks have a stronger impact on manufacturing sectors in countries with more open capital markets to foreign investment. Third, we find that the relative factor price of labor to capital, and capital intensity in manufacturing sectors appreciate as windfall increases. Fourth, we find that manufacturing sectors with higher capital intensity are less affected by windfall shocks than their peers, possibly due to a larger share of the effect being absorbed by more laborintensive tradable sectors. An implication of the fourth result is that having diverse manufacturing sectors in capital intensity helps cushion the volatility of oil shocks.
Author : Daron Acemoglu
Publisher : Currency
ISBN 13 : 0307719227
Total Pages : 546 pages
Book Rating : 4.3/5 (77 download)
Download or read book Why Nations Fail written by Daron Acemoglu and published by Currency. This book was released on 2013-09-17 with total page 546 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brilliant and engagingly written, Why Nations Fail answers the question that has stumped the experts for centuries: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine? Is it culture, the weather, geography? Perhaps ignorance of what the right policies are? Simply, no. None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one of the fastest growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra Leone, are mired in poverty and violence? Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or lack of it). Korea, to take just one of their fascinating examples, is a remarkably homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed everyone to participate in economic opportunities. The economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutions—with no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories. Based on fifteen years of original research Acemoglu and Robinson marshall extraordinary historical evidence from the Roman Empire, the Mayan city-states, medieval Venice, the Soviet Union, Latin America, England, Europe, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, including: - China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West? - Are America’s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority? - What is the most effective way to help move billions of people from the rut of poverty to prosperity? More philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson’s breakthrough ideas on the interplay between inclusive political and economic institutions? Why Nations Fail will change the way you look at—and understand—the world.
Author : Fareed Zakaria
Publisher : Princeton University Press
ISBN 13 : 1400829186
Total Pages : 210 pages
Book Rating : 4.4/5 (8 download)
Download or read book From Wealth to Power written by Fareed Zakaria and published by Princeton University Press. This book was released on 1999-07-26 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: What turns rich nations into great powers? How do wealthy countries begin extending their influence abroad? These questions are vital to understanding one of the most important sources of instability in international politics: the emergence of a new power. In From Wealth to Power, Fareed Zakaria seeks to answer these questions by examining the most puzzling case of a rising power in modern history--that of the United States. If rich nations routinely become great powers, Zakaria asks, then how do we explain the strange inactivity of the United States in the late nineteenth century? By 1885, the U.S. was the richest country in the world. And yet, by all military, political, and diplomatic measures, it was a minor power. To explain this discrepancy, Zakaria considers a wide variety of cases between 1865 and 1908 when the U.S. considered expanding its influence in such diverse places as Canada, the Dominican Republic, and Iceland. Consistent with the realist theory of international relations, he argues that the President and his administration tried to increase the country's political influence abroad when they saw an increase in the nation's relative economic power. But they frequently had to curtail their plans for expansion, he shows, because they lacked a strong central government that could harness that economic power for the purposes of foreign policy. America was an unusual power--a strong nation with a weak state. It was not until late in the century, when power shifted from states to the federal government and from the legislative to the executive branch, that leaders in Washington could mobilize the nation's resources for international influence. Zakaria's exploration of this tension between national power and state structure will change how we view the emergence of new powers and deepen our understanding of America's exceptional history.
Author : Luiz Carlos Bresser-Pereira
Publisher : Routledge
ISBN 13 : 1136664610
Total Pages : 241 pages
Book Rating : 4.1/5 (366 download)
Download or read book Developmental Macroeconomics written by Luiz Carlos Bresser-Pereira and published by Routledge. This book was released on 2014-09-04 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developmental Macroeconomics: Access to Demand, the Exchange Rate and Growth offers a new approach to development economics and macroeconomics. It is a Keynesian-structuralist approach to economics applied to middle income countries that emphasizes the strategic role of demand in creating investment opportunities that are essential to economic development. It also explores crucial links between short-term full employment and financial stability with medium term growth. While this book emphasizes the central role played by the exchange rate it does not ignore other macroeconomic prices (the interest rate, the inflation rate and the profit rate). It develops a group of concepts and models and blends them together in the model of the tendency to the cyclical overvaluation of the exchange rate in developing countries. According to this model, the exchange rate tends to be chronically overvalued. In so far that this is true the exchange rate ceases to be just a short-term problem to be treated by macroeconomics and becomes central to development economics and should be crucially oriented to manage the exchange rate and keep it competitive at the industrial equilibrium level. The book closes with the presentation of new developmentalism – a national development strategy based on the system of models previously discussed that is both an alternative to old national-developmentalism and to liberal orthodoxy or the Washington consensus.
Author : Mr.Rabah Arezki
Publisher : International Monetary Fund
ISBN 13 : 1513590766
Total Pages : 54 pages
Book Rating : 4.5/5 (135 download)
Download or read book News Shocks in Open Economies written by Mr.Rabah Arezki and published by International Monetary Fund. This book was released on 2015-09-29 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores the effect of news shocks on the current account and other macroeconomic variables using worldwide giant oil discoveries as a directly observable measure of news shocks about future output ? the delay between a discovery and production is on average 4 to 6 years. We first present a two-sector small open economy model in order to predict the responses of macroeconomic aggregates to news of an oil discovery. We then estimate the effects of giant oil discoveries on a large panel of countries. Our empirical estimates are consistent with the predictions of the model. After an oil discovery, the current account and saving rate decline for the first 5 years and then rise sharply during the ensuing years. Investment rises robustly soon after the news arrives, while GDP does not increase until after 5 years. Employment rates fall slightly for a sustained period of time.
Author : National Intelligence Council
Publisher : Cosimo Reports
ISBN 13 : 9781646794973
Total Pages : 158 pages
Book Rating : 4.7/5 (949 download)
Download or read book Global Trends 2040 written by National Intelligence Council and published by Cosimo Reports. This book was released on 2021-03 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.
Author : Mr.Rabah Arezki
Publisher : International Monetary Fund
ISBN 13 : 1451982712
Total Pages : 35 pages
Book Rating : 4.4/5 (519 download)
Download or read book Boom-Bust Cycle, Asymmetrical Fiscal Response and the Dutch Disease written by Mr.Rabah Arezki and published by International Monetary Fund. This book was released on 2010-04-01 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the behavior of expenditure policy during boom-bust in commodity price cycles, and its implication for real exchange rate movements. To do so, we introduce a Dutch disease model with downward rigidities in government spending to revenue shock. This model leads to a decoupling between real exchange rate and commodity price movement during busts. We test our model's theoretical predictions and underlying assumptions using panel data for 32 oil-producing countries over the period 1992 to 2009. Results are threefold. First, we find that change in current spending have a stronger impact on the change in real exchange rate compared to capital spending. Second, we find that current spending is downwardly sticky, but increases in boom time, and conversely for capital spending. Third, we find limited evidence that fiscal rules have helped reduce the degree of responsiveness of current spending during booms. In contrast, we find evidence that fiscal rules are associated with a significant reduction in capital expenditure during busts while responsiveness to boosts is more muted. This raises concerns about potential adverse consequences of this asymmetry on economic performance in oil-producing countries.
Author : Kareem Ismail
Publisher :
ISBN 13 :
Total Pages : 37 pages
Book Rating : 4.:/5 (13 download)
Download or read book The Structural Manifestation of the 'Dutch Disease' written by Kareem Ismail and published by . This book was released on 2014 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study derives structural implications of the Dutch disease in oil-exporting countries due to permanent oil price shocks from a typical model. We then test these implications in manufacturing sector data across a wide group of countries including oil-exporters covering 1977 to 2004. The results on oil-exporting countries are four folds. First, we find that permanent increases in oil price negatively impact output in manufacturing as consistent with the Dutch disease. Second, Evidence in the data shows that oil windfall shocks have a stronger impact on manufacturing sectors in countries with more open capital markets to foreign investment. Third, we find that the relative factor price of labor to capital, and capital intensity in manufacturing sectors appreciate as windfall increases. Fourth, we find that manufacturing sectors with higher capital intensity are less affected by windfall shocks than their peers, possibly due to a larger share of the effect being absorbed by more laborintensive tradable sectors. An implication of the fourth result is that having diverse manufacturing sectors in capital intensity helps cushion the volatility of oil shocks.
Author : Roger Hosein
Publisher : Palgrave Macmillan
ISBN 13 : 9783030776718
Total Pages : 265 pages
Book Rating : 4.7/5 (767 download)
Download or read book Oil and Gas in Trinidad and Tobago written by Roger Hosein and published by Palgrave Macmillan. This book was released on 2022-08-09 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: Oil and Gas in Trinidad and Tobago presents a historical economic review of the energy sector of Trinidad and Tobago, followed by a detailed evaluation of policies associated with resource abundance and the effects on the economy from various perspectives, including industrialization, labor productivity, education, export diversification, and competitiveness. This book utilizes a wide range of statistical data and methodologies to both economically and statistically analyze these issues at hand. The content of this book will be useful not only for policymakers but also for researchers and students interested in the field.
Author : Hollis B. Chenery
Publisher :
ISBN 13 :
Total Pages : 234 pages
Book Rating : 4.:/5 (74 download)
Download or read book Patterns of Development, 1950-1970 written by Hollis B. Chenery and published by . This book was released on 1975 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt:
