Kazakhstan: Resource Curse or Dutch Disease?

2013 ◽  
pp. 120-141
Author(s):  
T. Aliev
Keyword(s):  
Economic Growth ◽  
Negative Impact ◽  
Resource Curse ◽  
Quality Characteristics ◽  
Dutch Disease ◽  
Social Disparities ◽  
Resource Abundance ◽  
Modern Economic Growth ◽  
Modern Economic ◽  
Resource Wealth

The paper examines the influence of resource wealth on the nature of economic development of Kazakhstan. Despite active economic dynamics in the 2000s, the effect of resource abundance has a negative impact on the quality characteristics of modern economic growth in the country. Kazakhstan is characterized by significant structural, territorial, social disparities, low international competitiveness of many commercial goods (even some commodities).

Mechanisms of Resource Curse and Economic Policy

2007 ◽  
pp. 4-27 ◽  
Author(s):  
V. Polterovich ◽  
V. Popov ◽  
A. Tonis
Keyword(s):  
Real Exchange Rates ◽  
Resource Curse ◽  
Budget Deficits ◽  
Resource Abundance ◽  
Fuel Prices ◽  
Use Of Resources ◽  
Resource Wealth ◽  
The One ◽  
The Right ◽  
Rich Countries

This paper compares various mechanisms of resource curse leading to a potentially inefficient use of resources; it is demonstrated that each of these mechanisms is associated with market imperfections and can be "corrected" with appropriate government policies. Empirical evidence seems to suggest that resource abundant countries have on average lower budget deficits and inflation, and higher foreign exchange reserves. Besides, lower domestic fuel prices that are typical for resource rich countries have a positive effect on long-term growth even though they are associated with losses resulting from higher energy consumption. On top of that resource abundance allows to reduce income inequalities. So, on the one hand, resource wealth turns out to be conducive to growth, especially in countries with strong institutions. However, on the other hand, resource abundance leads to corruption of institutions and to overvalued real exchange rates. On balance, there is no solid evidence that resource abundant countries grow more slowly than the others, but there is evidence that they grow more slowly than could have grown with the right policies and institutions.

Economic Growth and Human Development since 1820

2018 ◽  
pp. 22-54
Author(s):  
Şevket Pamuk
Keyword(s):  
Economic Growth ◽  
World War Ii ◽  
Human Development ◽  
Industrial Revolution ◽  
Physical Capital ◽  
Modern Economic Growth ◽  
Education Levels ◽  
Modern Economic ◽  
Proximate Causes ◽  
The One

This chapter examines the trends in economic growth and human development in Turkey during the last two centuries. Economists have learned a great deal about modern economic growth since the end of World War II. The large and growing literature has emphasized that increases in productivity, achieved through technological progress on the one hand, and increases in per capita physical capital and education levels, on the other, were the most important factors contributing to economic growth. In addition, the labor force is much better educated than in 1820. In short, technological change and higher rates of investment in both physical and human capital are seen today as the leading proximate causes of economic growth since the Industrial Revolution.

Introduction

2020 ◽  
pp. 1-36
Author(s):  
Paul Erdkamp ◽  
Koenraad Verboven ◽  
Arjan Zuiderhoek
Keyword(s):  
Economic Growth ◽  
Structural Properties ◽  
Productivity Growth ◽  
Capital Goods ◽  
Roman Economy ◽  
Roman World ◽  
Large Complex ◽  
Modern Economic Growth ◽  
Modern Economic

Investment in capital, both physical and financial, and innovation in its uses are often considered the linchpin of modern economic growth, while credit and credit markets now seem to determine the wealth—as well as the fate—of nations. Yet was it always thus? The Roman economy was large, complex, and sophisticated, but in terms of its structural properties, did it look anything like the economies we know today? Through consideration of the allocation and uses of capital and credit and the role of innovation in the Roman world, this volume explores how capital in its various forms was generated, allocated, and employed in the Roman economy; whether the Romans had markets for capital goods and credit; and whether investment in capital led to innovation and productivity growth.

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