Resource Abundance and Economic Development

By R. M. Auty | Go to book overview

It therefore seems likely that Costa Rica is finally gravitating towards the growth trajectory of Malaysia. In order to remain on that path, however, the Costa Rican government needs to learn from Malaysia and espouse an entitlement strategy of 'growth-with security'. This requires the emergence of sufficient groups that benefit from competitive activity to balance the interests of those who do not. This political process takes time. Economic reform therefore requires more than a change in economic policy, it also requires the accumulation of produced and social capital and that takes time, the exact amount of which will vary with the initial conditions. Moreover, Costa Rica shows that a social capital endowment that appears favourable under one set of conditions may subsequently prove an obstacle to improvement.


REFERENCES

Auty, R. M. and R. F. Mikesell (1998), Sustainable Development in Mineral Economies, Oxford: Clarendon Press.

Baldwin, R. E. (1956), 'Patterns of settlement in newly settled regions', Manchester School of Social and Economic Studies, 24, 161-79.

Banco Central de Costa Rica (Various Years) Anuario Estadistico, San Jose: Banco Central de Costa Rica.

Bulmer-Thomas, V. (1987), The Political Economy of Central America Since 1920, Cambridge: Cambridge University Press.

Collins, S. and G. Bosworth (1996), 'Economic growth in East Asia: accumulation versus assimilation', Brookings Papers on Economic Activity.

Cordero, J. (1999), 'El Crecimiento Económico y la Inversión en Costa Rica', Working Paper, Instituto de Investigaciones en Ciencias Económicas, Universidad de Costa Rica, San Jose.

Drèze, J. and A. Sen (1989), Hunger and Public Action, Oxford: Clarendon Press.

Easterly, W. and Kraay, A. (1999) 'Small states, small problems?', Development Research Working Paper 2139, Washington DC: World Bank.

Gindling, T. H. and Terrell, K. (1995), 'The nature of minimum wages and their effectiveness as a wage floor in Costa Rica, 1976-91', World Development 23, 1439-58.

Gonzalez-Vega, C. (1999) 'Costa Rica: mismanagement of the coffee boom', P. Collier, J. W. Gunning and Associates, Trade Shocks in Developing Countries: Vol. 2, Oxford: Oxford University Press: 42-81.

Graham, E. and Floering, I. (1984), The Modern Plantation in the Third World, London: Croom Helm.

Hirschman, A. O. (1977), 'A generalized linkage approach to development, with special reference to staples', in M. Nash (ed.), Essays on Economic Development and Cultural Change in Honor of Bert F. Hoselitz, Chicago Ill: University of Chicago Press: 67-98.

Jenkins, M., G. Esquivel and P. Larrain (1998), 'Export processing zones in Central America', Development Discussion Papers on Central America 4, Cambridge MA: HIID.

Kunte, A., K. Hamilton, J. Dixon and M. Clemens (1998), Estimating National Wealth: Methodology and Results. Environment Department, Washington DC: World Bank.

Morley, S. A. (1995), 'Structural adjustment and the determinants of poverty in Latin America', in N. Lustig (ed.), Coping with Austerity: Poverty and Inequality in Latin America, Washington DC: The Brookings Institution: 42-70.

Nelson, J. D. (1990), Economic Crisis and Policy Choice, Princeton NJ: Princeton University Press: 169-213.

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Resource Abundance and Economic Development
Table of contents

Table of contents

  • Unu World Institute for Development Economics Research (Unu/Wider) ii
  • Resource Abundance and Economic Development iii
  • Foreword v
  • Acknowledgements vii
  • Contents ix
  • List of Tables xi
  • List of Figures xiv
  • List of Contributors xv
  • Part I Introduction 2
  • 1: Introduction and Overview 3
  • References 15
  • Part II Critical Parameters in Resource-Based Development Models 18
  • 3: The Sustainability of Extractive Economies 36
  • Appendix 3.1 Deriving Net Income and Genuine Saving 46
  • References 55
  • References 73
  • Part III Long-Term Perspective On, and Models Of, Resource-Based Growth 94
  • References 109
  • 7: Short-Run Models of Contrasting Natural Resource Endowments 113
  • References 124
  • References 142
  • Part IV Development Trajectories of Resource-Abundant Countries 145
  • 9: Competitive Industrialization with Natural Resource Abundance 147
  • References 163
  • 10: A Growth Collapse with Diffuse Resources 165
  • References 177
  • References 191
  • 12: A Growth Collapse with High Rent Point Resources 193
  • References 206
  • 13: Large Resource-Abundant Countries Squander Their Size Advantage 208
  • References 220
  • Part V Lessons for Policy Reform 223
  • References 237
  • 15: Growth, Capital Accumulation, and Economic Reform in South Africa 239
  • Appendix 15.1 257
  • References 258
  • 16: Reforming Resource-Abundant Transition Economies 260
  • References 275
  • References 294
  • 18: A Nordic Perspective on Natural Resource Abundance 296
  • Part VI Conclusions 314
  • 19: Conclusions 315
  • References 327
  • Index 329
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