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Are resource-abundant economies disadvantaged?

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  • 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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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. McKibbin, W.J. & Anderson, K., 1997. "Reducing Coal Subsidies and Trade Barriers: Their Contribution to Greenhouse Gas Abatement," Papers 135, Brookings Institution - Working Papers.
  2. repec:fth:geneec:96.14 is not listed on IDEAS
  3. Anderson, Kym, 1993. "Lobbying Incentives and the Pattern of Protection in Rich and Poor Countries," CEPR Discussion Papers 789, C.E.P.R. Discussion Papers.
  4. 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.
  5. Tyers,Rod & Anderson,Kym, 2011. "Disarray in World Food Markets," Cambridge Books, Cambridge University Press, number 9780521172318, April.
  6. 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.
  7. Fagerberg, Jan, 1994. "Technology and International Differences in Growth Rates," Journal of Economic Literature, American Economic Association, vol. 32(3), pages 1147-75, September.
  8. Samuel S. Kortum & Jonathan Eaton, 1995. "Engines of growth: domestic and foreign sources of innovation," Finance and Economics Discussion Series 95-35, Board of Governors of the Federal Reserve System (U.S.).
  9. Anderson, Kym & James, Sarah, 1998. "On the Need for More Economic Assessment of Quarantine/SPS Policies," CEPR Discussion Papers 1934, C.E.P.R. Discussion Papers.
  10. 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.
  11. Jeffrey G. Williamson, 1995. "Globalization, Convergence and History," NBER Working Papers 5259, National Bureau of Economic Research, Inc.
  12. 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.
  13. 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.
  14. Beckerman, Wilfred, 1992. "Economic growth and the environment: Whose growth? whose environment?," World Development, Elsevier, vol. 20(4), pages 481-496, April.
  15. repec:fth:stanho:e-92-3 is not listed on IDEAS
  16. 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.
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Citations

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Cited by:
  1. 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.
  2. Kym Anderson & Peter Lloyd & Donald MacLaren, 2007. "Distortions to Agricultural Incentives in Australia Since World War II," Centre for International Economic Studies Working Papers 2007-01, University of Adelaide, Centre for International Economic Studies.
  3. 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.
  4. 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.
  5. 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.
  6. Davis, Graham A, 1998. "The minerals sector, sectoral analysis, and economic development," Resources Policy, Elsevier, vol. 24(4), pages 217-228, December.
  7. 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.

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