Phenomenon Of Plenty: Theory And Diagnosis
AbstractPresent study theoretically explores and empirically diagnoses the Phenomenon of Plenty - paradox of below-potential economic performance of nations generously endowed with natural resources, focusing on oil-rich CIS members: Russia, Azerbaijan, and Kazakhstan. Extending theoretical structure to proposed Four-Component Process it reports existence of direct de-servisation finding previously overlooked cause of oil paradox - downturn of non-tradable sector long-time lacking production forces. Application of elaborated 5-Sign Algorithm for Diagnosis of the Phenomenon of Plenty elicits its presence across evaluated nations.
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Bibliographic InfoArticle provided by Prague Development Center in its journal Perspectives of Innovation in Economics and Business (PIEB).
Volume (Year): 9 (2011)
Issue (Month): 3 (August)
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Phenomenon of Plenty; Dutch disease; oil; direct de-servisation; algorithm for diagnosis.;
Find related papers by JEL classification:
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- C18 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Methodolical Issues: General
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- O50 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - General
- Q33 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Resource Booms (Dutch Disease)
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