How Long to Read Resource Abundance and Economic Development

How Long Does it Take to Read Resource Abundance and Economic Development?

It takes the average reader 6 hours and 6 minutes to read Resource Abundance and Economic Development by R. M. Auty

Assuming a reading speed of 250 words per minute. Learn more

Description

Since the 1960s the per capita incomes of the resource-poor countries have grown significantly faster than those of the resource-abundant countries. In fact, in recent years economic growth has been inversely proportional to the share of natural resource rents in GDP, so that the small mineral-driven economies have performed least well and the oil-driven economies worst of all. Yet the mineral-driven resource-rich economies have high growth potential because the mineral exportsboost their capacity to invest and to import."Resource Abundance and Economic Development" explains the disappointing performance of resource-abundant countries by extending the growth accounting framework to include natural and social capital. The resulting synthesis identifies two contrasting development trajectories: the competitive industrialization of the resource-poor countries and the staple trap of many resource-abundant countries. The resource-poor countries are less prone to policy failure than the resource-abundant countriesbecause social pressures force the political state to align its interests with the majority poor and follow relatively prudent policies. Resource-abundant countries are more likely to engender political states in which vested interests vie to capture resource surpluses (rents) at the expense of policycoherence. A longer dependence on primary product exports also delays industrialization, heightens income inequality, and retards skill accumulation. Fears of 'Dutch disease' encourage efforts to force industrialization through trade policy to protect infant industry. The resulting slow-maturing manufacturing sector demands transfers from the primary sector that outstrip the natural resource rents and sap the competitiveness of the economy.The chapters in this collection draw upon historical analysis and models to show that a growth collapse is not the inevitable outcome of resource abundance and that policy counts. Malaysia, a rare example of successful resource-abundant development, is contrasted with Ghana, Bolivia, Saudi Arabia, Mexico, and Argentina, which all experienced a growth collapse. The book also explores policies for reviving collapsed economies with reference to Costa Rica, South Africa, Russia and Central Asia. Itdemonstrates the importance of initial conditions to successful economic reform.

How long is Resource Abundance and Economic Development?

Resource Abundance and Economic Development by R. M. Auty is 357 pages long, and a total of 91,749 words.

This makes it 120% the length of the average book. It also has 112% more words than the average book.

How Long Does it Take to Read Resource Abundance and Economic Development Aloud?

The average oral reading speed is 183 words per minute. This means it takes 8 hours and 21 minutes to read Resource Abundance and Economic Development aloud.

What Reading Level is Resource Abundance and Economic Development?

Resource Abundance and Economic Development is suitable for students ages 12 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Resource Abundance and Economic Development?

Resource Abundance and Economic Development by R. M. Auty is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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