Book Review: Economic Change, Government and Natural Resource Wealth: The Political Economy of Change in Southern Africa

2002 ◽  
Vol 13 (4) ◽  
pp. 441-443
Author(s):  
Professor D.D. Tewari
Keyword(s):  
Political Economy ◽  
Natural Resource ◽  
Southern Africa ◽  
Economic Change ◽  
The Political ◽  
Resource Wealth ◽  
Natural Resource Wealth

Economic Change, Government and Natural Resource Wealth: The Political Economy of Change in Southern Africa, London: Earthscan Publications, 2001, 168 pp.

Political Risk, Reputation, and the Resource Curse

2011 ◽  
Vol 44 (6) ◽  
pp. 662-688 ◽  
Author(s):  
Nathan M. Jensen ◽  
Noel P. Johnston
Keyword(s):  
Natural Resource ◽  
Insurance Industry ◽  
Resource Curse ◽  
Political Risk ◽  
Positive Association ◽  
The Political ◽  
Data Set ◽  
Resource Wealth ◽  
Risk Insurance ◽  
Natural Resource Wealth

There is a growing literature on how natural resources affect both economic performance and political regimes. In this article the authors add to this literature by focusing on how natural resource wealth affects the incentives of governments to uphold contracts with foreign investors across all sectors. They argue that although all states suffer reputation costs from reneging on contracts, governments in natural-resource-dependent economies are less sensitive to these costs, leading to a greater probability of expropriation and contract disputes. Specifically, leaders weigh the benefits of reneging on contracts with investors against the reputation costs of openly violating agreements with firms. The authors’ theoretical model predicts a positive association between resource wealth and expropriation. Using a data set from the political risk insurance industry, the authors show that resource dependent economies have much higher levels of political risk.

scholarly journals What Turns a Blessing into a Curse? The Political Economy of Natural Resource Wealth (Invited Lecture)

2007 ◽  
Vol 46 (4I) ◽  
pp. 351-377 ◽  
Author(s):  
Syed Mansoob Murshed
Keyword(s):  
Political Economy ◽  
Developing Countries ◽  
Natural Resource ◽  
Growth Failure ◽  
Institutional Development ◽  
Rent Seeking ◽  
Resource Rents ◽  
Resource Endowment ◽  
Resource Wealth ◽  
Natural Resource Wealth

I review the relationship between natural resource endowment type and economic growth in developing countries. Certain types of natural resources, such as oil and minerals, tend to exhibit concentrated production and revenue patterns, while revenue flows from other resources such as agriculture are more diffuse. Most developing countries that export products from the first group have been prone to growth failure in recent times. The most important channels are political economy mechanisms, where there are negative relationships between natural resource rents and institutional development. An explicit model of growth collapse with micro-foundations in rent-seeking contests that have increasing returns in rent-seeking outlays is presented.

scholarly journals Breaking Even: Political Economy and Private Enterprise in the Norwegian Glass Industry, 1739–1803

2019 ◽  
Vol 93 (02) ◽  
pp. 275-317
Author(s):  
Rolv Petter Amdam ◽  
Robert Fredona ◽  
Sophus A. Reinert
Keyword(s):  
Political Economy ◽  
Eighteenth Century ◽  
Natural Resource ◽  
Glass Industry ◽  
Founding Fathers ◽  
History Of ◽  
Resource Wealth ◽  
National Industry ◽  
Private Investors ◽  
Natural Resource Wealth

Using internal debates and surviving account books, this article traces the eighteenth-century history of the Norwegian glass industry, created to exploit Norway's immense natural resource wealth, and of the chartered company that would later become Norway's iconic Christiania Glasmagasin. The investors in the company, many of them among Norway's “founding fathers,” were individually responsible for its losses and it operated, remarkably, at an annual loss for nearly five decades. The article asks why, beyond the anticipation of a royal import ban on foreign glass, private investors might have continued to accept such losses. It focuses on tensions between cameralist and liberal ideologies in the creation of an important national industry, and on older (and perhaps more sustainable) ways of thinking about profitability.

Sign in / Sign up

Export Citation Format

Share Document