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Beyond the Curse.
Countries with an abundance of natural resources, many of which are in sub-Saharan Africa, often show a record of relatively poor economic performance compared with non-resource-rich countries. The chapters in this volume explore the potential challenges to countries with abundant natural resources...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Otros Autores: | , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington :
International Monetary Fund,
2011.
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| Temas: | |
| Acceso en línea: | Texto completo |
Tabla de Contenidos:
- Cover Page; Title Page; Copyright Page; Contents; Foreword; Acknowledgments; Abbreviations and Acronyms; 1 Overview; The Broad Perspective; Management of the Extraction; Fiscal Policy; Monetary Policy and Exchange Rate; Economic Diversification; Institutional Aspects; Part I Commodity Markets and The Macroeconomy; 2 Natural Resource Endowment: A Mixed Blessing?; Introduction; Policy issues in Natural-Resource-Rich Countries; Norway and Other Success Stories; From Anecdotes to Empirical Testing; Conclusion; References; 3 Primary Commodities: Historical Perspectives and Prospects.
- Primary Commodities in the Economic Development ProcessFalling Transport Costs and Globalizing Markets; The Entry and Exit of the State in the Commodity Sector in the 20th Century; Real Prices: Falling Long-Run Trends and Short-Run Instability; Policy Implications for Commodity-Exporting Nations; References; Part II Economic Diversification and The Role of Finance; 4 Economic Diversification in Resource-Rich Countries; Introduction; Why Diversify?; The Resource Curse: A Diversification Perspective; The Examples of Malaysia, Indonesia, Chile, and Dubai; Some Common Factors in Success.
- ConclusionsReferences; 5 Finance and Oil: Is There a Resource Curse?; Introduction; Finance and Growth: Is There a Natural Resource Discount?; Finance and Natural Resources-Is There a Resource Curse?; Banks in Resource-Based Economies; Access to Finance in Resource-Based Economies; Summary and Policy Implications; References; 6 The Economics of Sovereign Wealth Funds: Lessons from Norway; Introduction; The Economics of Sovereign Wealth Funds; The (Long) Road to a Sovereign Wealth Fund; Sovereign Wealth Management; Conclusions and Policy Implications; References; Part III Fiscal Policy.
- 7 Primary Commodity Price Series: Lessons for Policymakers in Resource-Rich CountriesIntroduction; Empirical Evidence; What Can Policymakers Do to Counter These Three Challenges?; Summary; References; 8 Sustainable Fiscal Policy for Mineral-Based Economies; Introduction; Measuring Economic Performance; Achieving Economic and Fiscal Sustainability; Conclusions and Policy Implications; Appendix; References; 9 Fiscal Policy In Commodity-Exporting Countries: Stability and Growth; Introduction; Data; Estimation Strategy and Main Results; Conclusion; References.
- Part IV Exchange Rates and Financial Stability10 How Can Commodity Exporters Make Fiscal and Monetary Policy Less Procyclical?; The Problem of Procyclicality; Proposal to Make Fiscal Policy More Countercyclical: Emulate Chile's Structural Budget Rule Institutions; Proposal to Make Monetary Policy More Countercyclical: Product Price Targeting; Summary; References; 11 Natural Resources Management and Financial Stability: Evidence from Algeria; Introduction; External Shocks and Financial Instability; Adoption of Prudent Macroeconomic Management for Increased Resources.