By Marc Badia-Miró, Vicente Pinilla, Henry Willebald
The courting among average capital and financial development is an open debate within the box of monetary improvement. Is an abundance of normal assets a blessing or a curse for monetary functionality? the sector of monetary historical past bargains a great vantage to discover the relevance of associations, technical development and supply-demand drivers.
Natural assets and financial development contains theoretical and empirical articles by means of best students who've studied this topic in numerous ancient sessions from the 19th century to the current day and in several components of the realm. half I provides the theoretical matters and discusses the that means of the "curse" and the relevance of the ancient point of view. half II captures the range of stories, featuring 13 autonomous case experiences in accordance with ancient effects from North and South the USA, Africa, Asia, Oceania and Europe.
This ebook emphasizes that an abundance of average assets isn't really a set state of affairs. it's a method that reacts to alterations within the constitution of commodity costs and issue endowments, and development calls for capital, labour, technical swap and acceptable institutional preparations. This abundance isn't really a given, yet is a part of the evolution of the commercial approach. historical past indicates that institutional caliber is the main issue to accommodate considerable usual assets and, specially, with the rents derived from their use and exploitation.
This extensive ranging quantity should be of serious relevance to all people with an curiosity in monetary heritage, improvement, fiscal progress, ordinary assets, global historical past and institutional economics.
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Additional resources for Natural Resources and Economic Growth: Learning from History
1998. Staples trade and economic development. In: M. Lundahl, ed. Themes of International Economics. Boston, MA: Ashgate Publishing, 45–68. , 2015. Oil as sweet as honey: linking natural resources, government institutions and domestic capital investment in Nigeria 1960–2000. In: M. Badia-Miró, V. Pinilla and H. Willebald, eds. Natural Resources and Economic Growth: Learning from History. London: Routledge. L. , 2002. The role of the balance of payments in economic growth. In: M. Setterfield, ed.
2015)). As economic historians, we have the opportunity to address a promising research programme to assess the dimensions, evolution and impact of natural capital on economic development, which will in all likelihood end by obliging us to reconsider some of our historical interpretations from the Industrial Revolution to the present day. Regions such as Latin America and Africa, where natural resources were always a key factor for economic development, are especially attractive in this respect.
Cambridge Journal of Economics, 25, 369–394. , Prichett, L. , 2001. The social foundations of poor economic growth in resource-rich economies. M. Auty, ed. Resource Abundance and Economic Development. New York: Oxford University Press. , 1990. The origins of American industrial success, 1879–1940. The American Economic Review, 80 (4), 651–668. , 2001. Resource-based growth then and now. Prepared for the World Bank project Patterns of Integration in the Global Economy. , 2015. The USA as a case study in resource-based development.