Diversified Development : Making the Most of Natural Resources in Eurasia

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collection.link.136
https://openknowledge.worldbank.org/handle/10986/6001
collection.link.47
https://openknowledge.worldbank.org/handle/10986/2155
collection.name.136
Russian PDFs Available
collection.name.47
Europe and Central Asia Studies
dc.contributor.author
Gill, Indermit S.
dc.contributor.author
Izvorski, Ivailo
dc.contributor.author
van Eeghen, Willem
dc.contributor.author
De Rosa, Donato
dc.contributor.other
Iootty De Paiva Dias, Mariana
dc.contributor.other
Kojo, Naoko
dc.contributor.other
Matin, Kazi M.
dc.contributor.other
Pathikonda, Vilas
dc.contributor.other
Sugawara, Naotaka
dc.date.accessioned
2014-02-27T16:03:41Z
dc.date.available
2014-02-27T16:03:41Z
dc.date.issued
2014-02-26
dc.description.abstract
This report is about the twelve countries of the former Soviet Union (Eurasia). About 85 percent of the region’s economic output is in six resource-rich economies. Today, 85 percent of Eurasia’s 280 million people are no longer poor. But academics who study resource-based economies debate whether these countries are cursed or blessed. And Eurasia’s policymakers long for the day when their economies are less extractive and more innovative. These observations prompt questions: Are resources a blessing or a curse? If it is one of these things, what would make it into the other? How much should Eurasia try to diversify their exports and economies away from natural resources? Are there ways to make Eurasian economies both extractive and innovative? The answers: a large majority of Eurasia’s people should consider themselves blessed. To make sure that this blessing does not become a curse, Eurasian economies have to become efficient—more productive, job-creating, and stable. But efficiency is not the same as diversification: there is little evidence that more concentrated economies have slower productivity growth, fewer jobs, or much more economic volatility. Governments need to worry less about the composition of exports and production and more about asset portfolios—natural resources, built capital, and economic institutions. They have much to do. Eurasia’s portfolios are heavy in tangibles like oil and gas and roads and railways and light in intangibles such as the institutions for managing resource earnings, providing social services, and regulating enterprise. But tangibles are not what distinguish success from failure—investments in intangibles, early in their development, have made some resource-rich countries both extractive and innovative.
en
dc.identifier.isbn
978-1-4648-0119-8
dc.identifier.other
10.1596/978-1-4648-0119-8
dc.identifier.uri
http://hdl.handle.net/10986/17193
dc.language.iso
en_US
dc.publisher
Washington, DC: World Bank
dc.relation.ispartofseries
Europe and Central Asia Studies
dc.rights
CC BY 3.0 IGO
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
dc.subject
Eurasia
dc.subject
economic diversification
dc.subject
extractive industries
dc.subject
institutions
dc.subject
natural resources
dc.subject
oil and gas
dc.title
Diversified Development : Making the Most of Natural Resources in Eurasia
en
okr.date.disclosure
2014-02-27
okr.doctype
Publications & Research :: Publication
okr.doctype
Publications & Research
okr.externalurl
http://www.worldbank.org/content/dam/Worldbank/Feature%20Story/ECA/diversified-development-eurasia-full-report.pdf
okr.externalurl
http://www.worldbank.org/content/dam/Worldbank/Feature%20Story/ECA/diversified-development-eurasia-overview.pdf
okr.globalpractice
Governance
okr.globalpractice
Trade and Competitiveness
okr.googlescholar.linkpresent
yes
okr.identifier.doi
10.1596/978-1-4648-0119-8
okr.language.supported
en
okr.peerreview
Academic Peer Review
okr.region.administrative
Europe and Central Asia
okr.region.country
Armenia
okr.region.country
Azerbaijan
okr.region.country
Azerbaijan
okr.region.country
Belarus
okr.region.country
Georgia
okr.region.country
Kazakhstan
okr.region.country
Kyrgyz Republic
okr.region.country
Moldova
okr.region.country
Russian Federation
okr.region.country
Tajikistan
okr.region.country
Ukraine
okr.region.country
Uzbekistan
okr.region.geographical
Europe and Central Asia
okr.topic
Governance
okr.topic
Governance :: National Governance
okr.topic
Governance :: Non Governmental Organizations
okr.topic
Governance :: Politics and Government
okr.topic
International Economics and Trade
okr.topic
International Economics and Trade :: Trade and Environment
okr.topic
Macroeconomics and Economic Growth :: Climate Change Economics
okr.topic
Macroeconomics and Economic Growth :: Commodities
okr.topic
Macroeconomics and Economic Growth :: Development Economics & Aid Effectiveness
okr.unit
ECACE

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