scholarly journals Improving Relations between a State and a Business Enterprise in the Context of Counteracting Adverse Effects of the Resource Curse

2021 ◽  
Vol 13 (3) ◽  
pp. 1067
Author(s):  
Marek Szturo ◽  
Bogdan Włodarczyk ◽  
Alberto Burchi ◽  
Ireneusz Miciuła ◽  
Karolina Szturo
Keyword(s):  
Economic Policy ◽  
Natural Resources ◽  
Resource Sharing ◽  
Global Economy ◽  
Empirical Studies ◽  
Relevant Literature ◽  
Resource Curse ◽  
Mineral Resources ◽  
Strategic Resources ◽  
Key Resources

Natural resources play a significant role in the development of the global economy. This refers, in particular, to strategic fuel and mineral resources. Due to the limited supply of natural resources and the lack of substitutes for most of the key resources in the world, the competition for the access to strategic resources is a feature of the global economy. It would seem that the countries which are rich in resources, because of this huge demand, enjoy spectacular economic prosperity. However, the results of empirical studies have demonstrated what is known as the ‘resource curse’. This article concentrates on the characteristics of the paradox of plenty, and in particular on the possibilities of preventing this phenomenon. The aim of this article is to identify the measures of economic policy with which to counteract the resource curse, based on the relationship between the state and the extraction business. Upon the critical analysis of the relevant literature, we concluded that the state’s economic policy, implemented in cooperation with the extraction business, is increasingly important for the prevention of the resource curse. In the context of the resource curse, the optimal and most consensual instrument, in comparison with other resource sharing agreements, is a production sharing agreement (PSA), which should also be adjusted to the current local economic conditions in a given country.

scholarly journals “RESOURCE CURSE” AS A CHALLENGE FOR SUSTAINABLE DEVELOPMENT IN RUSSIA

2020 ◽  
Vol 6 (4) ◽  
pp. 55-62
Author(s):  
Zhan Zhang ◽  
Keyword(s):  
Sustainable Development ◽  
Economic Development ◽  
Natural Resources ◽  
Resource Dependence ◽  
Resource Curse ◽  
Mineral Resources ◽  
Political Stability ◽  
Dutch Disease ◽  
Energy Sources ◽  
New Energy

The term “resource curse” refers to the socio-economic problems associated with mineral resources. There is a perception that rich natural resources can be a “curse” rather than a blessing for economic development, and most countries with rich natural resources grow more slowly than countries with scarce resources. The author aims to identify the main causes of the “resource curse” phenomenon as one of the challenges for sustainable development in Russia. The following tasks are set: to analyze the origin of the “resource curse” concept, to study the analysis of Chinese, Russian, and Western researchers about the “resource curse”, to determine the conditions for this phenomenon. Special attention is paid to solving the problem of resource dependence at the regional and state levels, as well as involving cooperation at the global level on the basis of justice, equality and mutual benefit. It is noted that to get out of the “resource trap” you need not only to overcome the traditional “Dutch disease”, but also need to avoid the “American syndrome”. It was concluded that the “resource curse” can be considered as a variety of comparative advantage trap. With the development of new energy sources, countries with rich traditional energy sources face more severe challenges. Their resolution requires comprehensive reform and the creation of new growth pole for sustainable socio-economic development (which is based on political stability), on the other hand, it is necessary to avoid excessive “financialization” of the market economy.

Towards New Policy Incentives for Fixed Capital Investment and Technological Upgrades in Russia

2011 ◽  
pp. 43-56
Author(s):  
A. Apokin
Keyword(s):  
Economic Policy ◽  
Capital Investment ◽  
Empirical Studies ◽  
Fixed Capital ◽  
Policy Framework ◽  
Private Companies ◽  
Russian Economy ◽  
Technological Modernization ◽  
Fixed Capital Investment ◽  
Policy Incentives

The paper approaches the problem of private fixed capital underinvestment in Russia. The author uses empirical studies of the Russian economy and cases of successful technological modernization to outline several groups of disincentives for private companies to perform fixed capital investment in Russia. To counter these constraints, a certain incentive-based economic policy framework is developed.

The end of Alchemy of Finance and Sovereign Money (on the books by M. King “The end of Alchemy: Money, Banking and the Future of the Global Economy” and by J. Huber “Sovereign Money. Beyond Reserve Banking”)

2017 ◽  
pp. 131-141 ◽  
Author(s):  
V. Yefimov
Keyword(s):  
Economic Policy ◽  
Central Bank ◽  
Institutional Theory ◽  
Money Supply ◽  
Government Spending ◽  
Global Economy ◽  
Private Banks ◽  
Money Creation ◽  
Ministry Of Finance ◽  
Reserve Banking

The review discusses the institutional theory of money considered in the books by King and Huber, and the conclusions that follow from it for economic policy. In accordance with this theory, at present the most of the money supply is created not by the Central Bank but by private banks. When a bank issues a loan, new money is created, and when the loan is repaid this money is destructed. The concept of sovereign money involves the monopoly of money creation of the central bank. In this case the most of newly created money is handed over to the ministry of finance to implement government spending.

Popular Resource Sovereignty

2018 ◽  
Author(s):  
Leif Wenar
Keyword(s):  
Human Rights ◽  
Natural Resources ◽  
Large Scale ◽  
Good Reason ◽  
Resource Curse ◽  
Civil Conflict ◽  
Popular Sovereignty ◽  
State Sovereignty ◽  
The People ◽  
Rich Countries

Article 1 of both of the major human rights covenants declares that the people of each country “shall freely dispose of their natural wealth and resources.” This chapter considers what conditions would have to hold for the people of a country to exercise this right—and why public accountability over natural resources is the only realistic solution to the “resource curse,” which makes resource-rich countries more prone to authoritarianism, civil conflict, and large-scale corruption. It also discusses why cosmopolitans, who have often been highly critical of prerogatives of state sovereignty, have good reason to endorse popular sovereignty over natural resources. Those who hope for more cosmopolitan institutions should see strengthening popular resource sovereignty as the most responsible path to achieving their own goals.

Conclusion

2017 ◽  
Author(s):  
Jonathon W. Moses ◽  
Bjørn Letnes
Keyword(s):  
Natural Resources ◽  
Resource Curse ◽  
Specific Model ◽  
Dutch Disease ◽  
Political Conditions

There is broad recognition that Norway manages its natural resources successfully. Policymakers are flocking to Norway to try to learn the lessons provided by the Norwegian model. This book describes the main challenges facing policymakers in resource-rich states (e.g., Dutch Disease, Resource Curse, Paradox of Plenty), and the sort of institutional solutions and policies that are available to them. We explain why the Norwegian authorities chose the solutions they did, and how these choices have changed over the years, in response to changing market and political conditions. The result is a book that offers insight and understanding as to why the country made the choices it did, rather than providing a specific model for export.

Australia—The Hidden Jewel

2018 ◽  
Author(s):  
Mahesh K. Joshi ◽  
J.R. Klein
Keyword(s):  
Natural Resources ◽  
Value Chain ◽  
Global Economy ◽  
Good Governance ◽  
Developing Economies ◽  
Raw Materials ◽  
Manufacturing Sector ◽  
Developed Countries ◽  
The United States ◽  
Dutch Disease

The twenty-first century is being touted as the Asian century. With its stable economy, good governance, education system, and above all the abundant natural resources, will Australia to take its place in the global economy by becoming more entrepreneurial and accelerating its rate of growth, or will it get infected with the so-called Dutch disease? It has been successful in managing trade ties with fast-developing economies like China and India as well as developed countries like the United States. It has participated in the growth of China by providing iron ore and coal. Because it is a low-risk country, it has enabled inflow of large foreign capital investments. A lot will depend on its capability and willingness to invest the capital available in entrepreneurial ventures, its ability to capture the full value chain of natural resources, and to export the finished products instead of raw materials, while building a robust manufacturing sector.

scholarly journals Does Social Support Affect the Health of the Elderly in Rural China? A Meta-Analysis Approach

2019 ◽  
Vol 16 (18) ◽  
pp. 3471 ◽  
Author(s):  
Natuya Zhuori ◽  
Yu Cai ◽  
Yan Yan ◽  
Yu Cui ◽  
Minjuan Zhao
Keyword(s):  
Social Support ◽  
Rural Areas ◽  
Rural China ◽  
Statistical Significance ◽  
Empirical Studies ◽  
Relevant Literature ◽  
The Elderly ◽  
Significant Difference ◽  
Meta Regression ◽  
The Impact

As the trend of aging in rural China has intensified, research on the factors affecting the health of the elderly in rural areas has become a hot issue. However, the conclusions of existing studies are inconsistent and even contradictory, making it difficult to form constructive policies with practical value. To explore the reasons for the inconsistent conclusions drawn by relevant research, in this paper we constructed a meta-regression database based on 65 pieces of relevant literature published in the past 25 years. For more valid samples to reduce publication bias, we also set the statistical significance of social support to the health of the elderly in rural areas as a dependent variable. Finally, combined with multi-dimensional social support and its implications for the health of the elderly, meta-regression analysis was carried out on the results of 171 empirical studies. The results show that (1) subjective support rather than objective support can have a significant impact on the health of the elderly in rural areas, and there is no significant difference between other dimensions of social support and objective support; (2) the health status of the elderly in rural areas in samples involving western regions is more sensitive to social support than that in samples not involving the western regions; (3) among the elderly in rural areas, social support for the older male elderly is more likely to improve their health than that for the younger female elderly; and (4) besides this, both data sources and econometric models greatly affect the heterogeneity of the effect of social support on the health of the elderly in rural areas, but neither the published year nor the journal is significant. Finally, relevant policies and follow-up studies on the impact of social support on the health of the elderly in rural areas are discussed.

scholarly journals The Policy Framework of Natural Resource Management in Oil-Dependence Countries

Economies ◽  
2021 ◽  
Vol 9 (1) ◽  
pp. 25
Author(s):  
Basem Ertimi ◽  
Tamat Sarmidi ◽  
Norlin Khalid ◽  
Mohd Helmi Ali
Keyword(s):  
Resource Management ◽  
Natural Resource Management ◽  
Natural Resource ◽  
Empirical Studies ◽  
Resource Curse ◽  
Policy Framework ◽  
Ecological Resources ◽  
Starting Point ◽  
Oil Revenues ◽  
Rich Countries

A variety of critical empirical studies are interested in and focused on complex issues related to natural resource management and resource curse, whilst less can be found combining diverse factors that affect the dynamics of this curse and mitigate it. The case study of Norway is used as the benchmark policy framework in oil-rich countries to invest oil revenues and set correct fiscal policies. In this study, an analytical framework was structured to evaluate the coherence of resource management with sustainability as a starting point, contributing to further assessments of how the adaptation of such policies is incorporated in resource management to mitigate the resource curse. The analysis also suggests that oil-rich countries can learn from Norway’s experience to mitigate this resource curse and utilize oil revenues in the interest of the country. In addition, the analysis helps in effective management and the protection of ecological resources as these are becoming an increasingly important strategic part of natural wealth. This study aimed to provide an overarching framework designed to help conceptualize key issues of natural resource management and the resource curse in oil-rich countries and understand the challenges facing those countries in managing the natural resources.

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