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.
en_US
dc.contributor.author
Izvorski, Ivailo
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dc.contributor.author
van Eeghen, Willem
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dc.contributor.author
De Rosa, Donato
en_US
dc.contributor.other
Iootty De Paiva Dias, Mariana
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dc.contributor.other
Kojo, Naoko
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dc.contributor.other
Matin, Kazi M.
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dc.contributor.other
Pathikonda, Vilas
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dc.contributor.other
Sugawara, Naotaka
en_US
dc.date.accessioned
2014-02-27T16:03:41Z
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dc.date.available
2014-02-27T16:03:41Z
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dc.date.issued
2014-02-26
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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_US
dc.identifier.isbn
978-1-4648-0119-8
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dc.identifier.other
10.1596/978-1-4648-0119-8
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dc.identifier.uri
http://hdl.handle.net/10986/17193
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dc.language.iso
en_US
en_US
dc.publisher
Washington, DC: World Bank
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dc.relation.ispartofseries
Europe and Central Asia Studies
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dc.rights
CC BY 3.0 IGO
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dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
en_US
dc.subject
Eurasia
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dc.subject
economic diversification
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dc.subject
extractive industries
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dc.subject
institutions
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dc.subject
natural resources
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dc.subject
oil and gas
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dc.title
Diversified Development : Making the Most of Natural Resources in Eurasia
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okr.date.disclosure
2014-02-27
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okr.doctype
Publications & Research :: Publication
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okr.doctype
Publications & Research
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okr.externalurl
http://www.worldbank.org/content/dam/Worldbank/Feature%20Story/ECA/diversified-development-eurasia-full-report.pdf
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okr.externalurl
http://www.worldbank.org/content/dam/Worldbank/Feature%20Story/ECA/diversified-development-eurasia-overview.pdf
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okr.globalpractice
Governance
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okr.globalpractice
Trade and Competitiveness
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okr.googlescholar.linkpresent
yes
okr.identifier.doi
10.1596/978-1-4648-0119-8
en_US
okr.peerreview
Academic Peer Review
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okr.region.administrative
Europe and Central Asia
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okr.region.country
Armenia
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okr.region.country
Azerbaijan
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okr.region.country
Azerbaijan
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okr.region.country
Belarus
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okr.region.country
Georgia
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okr.region.country
Kazakhstan
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okr.region.country
Kyrgyz Republic
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okr.region.country
Moldova
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okr.region.country
Russian Federation
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okr.region.country
Tajikistan
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okr.region.country
Ukraine
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okr.region.country
Uzbekistan
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okr.region.geographical
Europe and Central Asia
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okr.topic
Governance
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okr.topic
Governance :: National Governance
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okr.topic
Governance :: Non Governmental Organizations
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okr.topic
Governance :: Politics and Government
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okr.topic
International Economics and Trade
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okr.topic
International Economics and Trade :: Trade and Environment
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okr.topic
Macroeconomics and Economic Growth :: Climate Change Economics
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okr.topic
Macroeconomics and Economic Growth :: Commodities
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okr.topic
Macroeconomics and Economic Growth :: Development Economics & Aid Effectiveness
en_US
okr.unit
ECACE
en_US

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