Economics of Development Based on Commodity Revenues
AbstractCommodity resources offer vast opportunities for development. In the long run, however, the performance of commodity-rich countries tends to fall short of expectations, as commodity rents induce macroeconomic volatility and undermine incentives to improve institutions. The paper looks at the strategies that countries can adopt to avoid the "resource trap". These strategies aim at diversifying the economy, promoting financial development, building up stabilization buffers that lower macroeconomic volatility, and reducing inequality. The resource-rich transition countries have embraced these strategies to varying degrees, and with varying success. Improving institutions remains the key challenge.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoArticle provided by N.P. Redaktsiya zhurnala "Voprosy Economiki" in its journal Voprosy Economiki.
Volume (Year): 3 (2010)
Issue (Month): ()
Contact details of provider:
Web page: http://www.vopreco.ru/eng/year.html
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sergei Parinov).
If references are entirely missing, you can add them using this form.