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Are resource-abundant economies disadvantaged?

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Author Info

  • Anderson, Kym

Abstract

Economies well endowed with natural resources relative to other factors of production have grown slower than other economies over the long term. In reviewing possible explanations for this, the article finds unconvincing such common suggestions as declining terms of trade and rising restrictions to primary product markets abroad. It suggests the most likely reason is these countries’ own distortionary policy regimes. Recent reforms in some resource‐rich economies are already yielding growth dividends. The article also examines the impact of the greening of world preferences and politics on the prospects for resource‐abundant economics.

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File URL: http://purl.umn.edu/117219
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Bibliographic Info

Article provided by Australian Agricultural and Resource Economics Society in its journal Australian Journal of Agricultural and Resource Economics.

Volume (Year): 42 (1998)
Issue (Month): 1 (March)
Pages:

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Handle: RePEc:ags:aareaj:117219

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Keywords: Resource /Energy Economics and Policy;

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References

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  1. Gregory, R.G., 1976. "Some Implications Of The Growth Of The Mineral Sector," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 20(02), August.
  2. repec:fth:geneec:96.14 is not listed on IDEAS
  3. Tyers,Rod & Anderson,Kym, 2011. "Disarray in World Food Markets," Cambridge Books, Cambridge University Press, number 9780521172318, October.
  4. James, Sallie & Anderson, Kym, 1998. "On the need for more economic assessment of quarantine/SPS policies," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 42(4), December.
  5. Jonathan Eaton & Samuel Kortum, 1995. "Engines of Growth: Domestic and Foreign Sources of Innovation," NBER Working Papers 5207, National Bureau of Economic Research, Inc.
  6. Anderson, Kym, 1995. "Lobbying Incentives and the Pattern of Protection in Rich and Poor Countries," Economic Development and Cultural Change, University of Chicago Press, vol. 43(2), pages 401-23, January.
  7. McKibbin, W.J. & Anderson, K., 1997. "Reducing Coal Subsidies and Trade Barriers: Their Contribution to Greenhouse Gas Abatement," Papers 135, Brookings Institution - Working Papers.
  8. Fagerberg, Jan, 1994. "Technology and International Differences in Growth Rates," Journal of Economic Literature, American Economic Association, vol. 32(3), pages 1147-75, September.
  9. Davis, Graham A., 1995. "Learning to love the Dutch disease: Evidence from the mineral economies," World Development, Elsevier, vol. 23(10), pages 1765-1779, October.
  10. Beckerman, Wilfred, 1992. "Economic growth and the environment: Whose growth? whose environment?," World Development, Elsevier, vol. 20(4), pages 481-496, April.
  11. Lipsey, Robert E., 1994. "Quality change and other influences on measures of export prices of manufactured goods," Policy Research Working Paper Series 1348, The World Bank.
  12. Jeffrey G. Williamson, 1995. "Globalization, Convergence and History," NBER Working Papers 5259, National Bureau of Economic Research, Inc.
  13. Tanner, Carolyn & Nairn, Malcolm, 1997. "Principles of Australian Quarantine," 1997 Conference (41st), January 22-24, 1997, Gold Coast, Australia 135413, Australian Agricultural and Resource Economics Society.
  14. Anderson, Kym & Dimaranan, Betina V. & Hertel, Thomas W. & Martin, William J., 1997. "Asia-Pacific food markets and trade in 2005: a global, economy-wide perspective," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 41(1), March.
  15. Johnson, D. Gale, 1997. "On the resurgent population and food debate," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 41(1), March.
  16. repec:fth:stanho:e-92-3 is not listed on IDEAS
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Citations

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Cited by:
  1. Anderson, Kym & Lloyd, Peter J & Maclaren, Donald, 2007. "Distortions to Agricultural Incentives in Australia Since World War II," CEPR Discussion Papers 6436, C.E.P.R. Discussion Papers.
  2. Shahida Wizarat, 2013. "Natural Resources, Conflict and Growth Nexus," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 3(8), pages 1063-1082, August.
  3. Davis, Graham A, 1998. "The minerals sector, sectoral analysis, and economic development," Resources Policy, Elsevier, vol. 24(4), pages 217-228, December.
  4. James, Sallie & Anderson, Kym, 1998. "On the need for more economic assessment of quarantine/SPS policies," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 42(4), December.
  5. Douglas A. Irwin, 2000. "How Did the United States Become a Net Exporter of Manufactured Goods?," NBER Working Papers 7638, National Bureau of Economic Research, Inc.
  6. Ratbek Dzhumashev & Jaai Parasnis, 2011. "Taxation and Migration: Policies to Manage a Resource Boom," Development Research Unit Working Paper Series 33-11, Monash University, Department of Economics.
  7. Edward Barbier, 1999. "Endogenous Growth and Natural Resource Scarcity," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 14(1), pages 51-74, July.

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