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Policy-Making in Resource-Rich Countries

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  • Arne Bigsten

Abstract

Economic development depends upon resource availability, resource allocation, and the efficiency of resource use. One would presume that countries with an abundance of natural resources would stand a better chance of developing than resource-poor countries. Recent experiences in less developed countries show, however, that countries with an abundance of natural resources have grown at a slower pace than countries with scarce natural resources. Zambia is a case in point. Its economy has been based on copper mining, but over the last three decades per capita incomes in Zambia have been halved. This paper shows how policy-making in such a resource abundant economy is biased by the availability of resource rents. It further discusses the implications for the policies of international financial institutions and other donors in such a setting, and the possibilities for the domestic process to sustain a system of good governance.

Suggested Citation

  • Arne Bigsten, 2001. "Policy-Making in Resource-Rich Countries," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 2(3), pages 139-153, July.
  • Handle: RePEc:wej:wldecn:69
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    1. Bigsten, Arne & Levin, Jorgen & Persson, Hakan, 2001. "Debt Relief and Growth: A study of Zambia and Tanzania," WIDER Working Paper Series 104, World Institute for Development Economic Research (UNU-WIDER).

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