The Varieties of Resource Experience : Natural Resource Export Structures and the Political Economy of Economic Growth
Many oil, mineral, and plantation crop-based economies experienced a substantial deceleration in growth following the commodity boom and bust of the 1970s and early 1980s. This article illustrates how countries dependent on point source natural res...
| Main Authors: | , , , |
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| Format: | Journal Article |
| Language: | English en_US |
| Published: |
Published by Oxford University Press on behalf of the World Bank
2014
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2005/05/17748205/varieties-resource-experience-natural-resource-export-structures-political-economy-economic-growth http://hdl.handle.net/10986/16480 |
| Summary: | Many oil, mineral, and plantation
crop-based economies experienced a substantial deceleration
in growth following the commodity boom and bust of the 1970s
and early 1980s. This article illustrates how countries
dependent on point source natural resources (those extracted
from a narrow geographic or economic base, such as oil and
minerals) and plantation crops are predisposed to heightened
economic and social divisions and weakened institutional
capacity. This in turn impedes their ability to respond
effectively to shocks, which previous studies have shown to
be essential for sustaining rising levels of prosperity.
Analysis of data on classifications of export structure,
controlling for a wide array of other potential determinants
of governance, shows that point source and coffee and cocoa
exporting countries do relatively poorly across an array of
governance indicators. These governance effects are not
associated simply with being a natural resource exporter.
Countries with natural resource exports that are diffuse
relying primarily on livestock and agricultural produce from
small family farms do not show the same strong effects and
have had more robust growth recoveries. |
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