Nature'S Blessing Or Nature'S Curse: The Political Economy Of Transition In Resource-Based Economies
AbstractThis paper analyses the reform progress made in the energy-rich states of the Commonwealth of Independent States (CIS), Azerbaijan, Kazakhstan, Turkmenistan and Uzbekistan (AKTU for short) and contrasts their development to that in the resource-poor countries at the CIS periphery. The main argument of the paper is that far from being a blessing that would have allowed energy-rich countries to cushion the impact of reforms and thus make faster progress, energy rents have often been wasted or appropriated by the ruling elites. Progress in key structural reforms has in some cases lagged even behind other CIS countries and significant policy challenges need to be addressed if natural resource wealth is not to turn into a curse for the region.
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Bibliographic InfoPaper provided by University of Bonn, Center for Development Research (ZEF) in its series Discussion Papers with number 18761.
Date of creation: 2004
Date of revision:
Political Economy; Resource /Energy Economics and Policy;
Other versions of this item:
- Akram Esanov & Martin Raiser & Willem Buiter, 2001. "Nature’s blessing or nature’s curse: the political economy of transition in resource-based economies," Working Papers 66, European Bank for Reconstruction and Development, Office of the Chief Economist.
- O13 - Economic Development, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
- P26 - Economic Systems - - Socialist Systems and Transition Economies - - - Political Economy
- P27 - Economic Systems - - Socialist Systems and Transition Economies - - - Performance and Prospects
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