Natural Resources in Latin America and the Caribbean : Beyond Booms and Busts?

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dc.contributor.author
Sinnott, Emily
en_US
dc.contributor.author
Nash, John
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dc.contributor.author
de la Torre, Augusto
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dc.date.accessioned
2012-03-19T09:34:38Z
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dc.date.available
2012-03-19T09:34:38Z
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dc.date.issued
2011
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dc.identifier.isbn
978-0-8213-8482-4
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dc.identifier.uri
http://hdl.handle.net/10986/2482
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dc.description.abstract
Throughout, the history of the Latin America and Caribbean (LAC) region, natural resource wealth has been critical for its economies. Production of precious metals, sugar, rubber, grains, coffee, copper, and oil have at various periods of history made countries in Latin America-and their colonial powers-some of the most prosperous in the world. In some ways, these commodities may have changed the course of history in the world at large. Latin America produced around 80 percent of the world's silver in the 16th through 19th centuries, fueling the monetary systems of not only Europe, but China and India as well. The dramatic movements in commodity markets since the early 2000s, as well as the recent economic crisis, provide new data to analyze and also underscore the importance of a better understanding of issues related to boom-bust commodity cycles. The current pattern of global recovery has favored LAC so far. Countercyclical policies have supported domestic demand in the larger LAC economies, and external demand from fast-growing emerging markets has boosted exports and terms of trade for LAC's net commodity exporters. Prospects for LAC in the short term look good. Beyond the cyclical rebound, however, the region's major longer-run challenge going forward will be to craft a bold productivity agenda. With LAC coming out of this crisis relatively well positioned, this may well be possible, especially considering that the region's improved macro-financial resiliency gives greater assurance that future gains from growth will not be wiped out by financial crises. In addition, LAC has been making significant strides in the equity agenda and this could help mobilize consensus in favor of a long overdue growth-oriented reform agenda. But it remains to be seen whether the region will be able to seize the opportunity to boost long-run growth, especially considering the large gaps that LAC would need to close in such key areas as saving, human capital accumulation, physical infrastructure, and the ability to adopt and adapt new technologies.
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dc.language
English
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dc.publisher
World Bank
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dc.relation.ispartofseries
World Bank Latin American and Caribbean 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
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dc.subject
ADVANCED ECONOMIES
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dc.subject
ADVERSE EFFECTS
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dc.subject
AGRICULTURAL COMMODITIES
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dc.subject
AGRICULTURAL COMMODITY
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dc.subject
AGRICULTURAL PRODUCTION
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AGRICULTURE
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dc.subject
BENCHMARKING
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BUSINESS ENVIRONMENT
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BUSINESS ENVIRONMENTS
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dc.subject
CAPITAL ACCOUNTS
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dc.subject
CAPITAL ACCUMULATION
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dc.subject
CAPITAL FORMATION
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dc.subject
CAPITAL MARKETS
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CAPITAL STOCK
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dc.subject
CARBON
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CASH FLOWS
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dc.subject
COMMODITIES
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dc.subject
COMMODITY
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dc.subject
COMMODITY BOOM
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dc.subject
COMMODITY BOOMS
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COMMODITY EXPORT
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dc.subject
COMMODITY EXPORTS
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dc.subject
COMMODITY IMPORTS
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COMMODITY MARKETS
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COMMODITY PRICE
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COMMODITY PRICE INDEX
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COMMODITY PRICE INDEXES
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dc.subject
COMMODITY PRICE INDICES
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dc.subject
COMMODITY PRICES
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dc.subject
COMMODITY PRODUCERS
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COMMODITY PRODUCTION
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dc.subject
COMMODITY SECTORS
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COMMODITY TRADE
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COMMON PROPERTY
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COMPARATIVE ADVANTAGE
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COMPETITIVENESS
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CONCENTRATION INDEXES
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dc.subject
CONSUMER PRICE INDEX
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dc.subject
CONSUMERS
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COPYRIGHT
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dc.subject
COPYRIGHT CLEARANCE
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dc.subject
COPYRIGHT CLEARANCE CENTER
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dc.subject
CPI
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dc.subject
DEPOSITS
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dc.subject
DEVELOPED COUNTRIES
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dc.subject
DEVELOPING COUNTRIES
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dc.subject
DEVELOPING ECONOMIES
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dc.subject
DIRECT CONNECTIONS
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E-MAIL
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dc.subject
ECONOMETRIC ANALYSES
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dc.subject
ECONOMETRIC ANALYSIS
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dc.subject
ECONOMIC ACTIVITIES
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dc.subject
ECONOMIC ACTIVITY
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dc.subject
ECONOMIC CRISIS
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dc.subject
ECONOMIC DEVELOPMENT
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dc.subject
ECONOMIC EFFECTS
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dc.subject
ECONOMIC GROWTH
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dc.subject
ECONOMIC HISTORY
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dc.subject
ECONOMIC RENTS
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ECONOMIC RESEARCH
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dc.subject
ECONOMIC SIZE
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ECONOMIC STRUCTURES
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dc.subject
ECONOMIC WELFARE
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dc.subject
ECONOMICS
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dc.subject
ECONOMICS LITERATURE
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dc.subject
ECONOMISTS
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ELASTICITY
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ELECTRICITY
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EMERGING ECONOMIES
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EMERGING MARKETS
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EMPIRICAL EVIDENCE
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EMPIRICAL INVESTIGATIONS
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EMPIRICAL STUDIES
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ENVIRONMENTAL
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dc.subject
ENVIRONMENTS
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EQUILIBRIUM
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EXCHANGE RATE
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EXPLOITATION
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EXPORT PROCESSING ZONES
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EXTERNAL COSTS
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FACTORS OF PRODUCTION
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FEDERAL RESERVE
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FINANCIAL ASSETS
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FINANCIAL CRISES
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FINANCIAL CRISIS
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FINANCIAL RISK
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dc.subject
FISH
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FISHERIES
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FIXED COSTS
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FORECASTS
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FOREIGN EXCHANGE
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FOREIGN INVESTORS
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FOREIGN TRADE
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FORESTRY
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FUTURE PRICE
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GDP
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GDP PER CAPITA
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GEOGRAPHICAL AREA
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GLOBAL EXPORTS
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GLOBAL MARKETS
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GOVERNMENT EXPENDITURES
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GOVERNMENT OWNERSHIP
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GOVERNMENT REVENUES
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GROSS DOMESTIC PRODUCT
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GROWTH PATH
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GROWTH POTENTIAL
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GROWTH RATE
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GROWTH STRATEGIES
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HISTORY OF ECONOMIC THOUGHT
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HUMAN CAPITAL
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dc.subject
ID
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IMAGE
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INCENTIVE STRUCTURE
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INCOMES
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INDUSTRIAL REVOLUTION
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INDUSTRIALIZATION
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INFORMATION TECHNOLOGY
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INFRARED
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INNOVATION POLICIES
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dc.subject
INSPECTION
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INSTITUTION
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INSTITUTIONAL ENVIRONMENT
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INTEGRATED PROGRAM FOR COMMODITIES
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INTERNATIONAL CAPITAL
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INTERNATIONAL CAPITAL FLOWS
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INTERNATIONAL TRADE
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LEGAL ENVIRONMENT
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LICENSES
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MACROECONOMIC MANAGEMENT
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MACROECONOMIC STABILITY
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MANUFACTURING
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MARGINAL COST
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MARGINAL COST OF PRODUCTION
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MARKET SHARE
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dc.subject
MATERIAL
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METALS
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MINES
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MONETARY POLICY
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NATIONAL INCOME
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NATURAL CAPITAL
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NATURAL RESOURCE
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NATURAL RESOURCE ECONOMICS
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NATURAL RESOURCES
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NEGATIVE EXTERNALITIES
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NEW TECHNOLOGIES
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NONTRADABLE
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OIL
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OIL PRICES
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OPEC
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dc.subject
OUTPUT
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PERVERSE SUBSIDIES
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PHOTO
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PHYSICAL INFRASTRUCTURE
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dc.subject
POLICY MAKERS
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PORTFOLIO
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PRICE CONTROLS
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PRICE FLUCTUATIONS
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PRICE INDEXES
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PRICE INSTABILITY
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PRICE MOVEMENTS
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PRICE RISK
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PRICE SERIES
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PRICE VOLATILITY
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PRICED
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PRIMARY COMMODITIES
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PRIMARY COMMODITY
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PRIVATE INVESTMENT
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PRIVATIZATION
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PRODUCERS
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PRODUCT CATEGORIES
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PRODUCT MARKETS
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PRODUCTION PROCESS
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PRODUCTION STRUCTURE
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PRODUCTIVITY
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PRODUCTIVITY GROWTH
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PROVEN RESERVES
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PUBLIC EXPENDITURES
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PUBLIC GOOD
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PUBLIC POLICY
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QUERIES
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RANDOM WALK
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RENT SEEKING
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RESOURCE MANAGEMENT
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RESOURCE OWNERSHIP
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dc.subject
RESULT
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RESULTS
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RISK AVERSE
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RISK AVERSION
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RISK MANAGEMENT
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dc.subject
SAVINGS
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dc.subject
SKILLED WORKER
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dc.subject
SKILLED WORKERS
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SMALL ECONOMY
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dc.subject
SUNK COSTS
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dc.subject
SUSTAINABLE DEVELOPMENT
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dc.subject
SUSTAINABLE GROWTH
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dc.subject
TAX
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dc.subject
TAX RATES
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TECHNOLOGICAL ADVANCES
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dc.subject
TECHNOLOGICAL INNOVATION
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TECHNOLOGICAL INNOVATIONS
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dc.subject
TELEPHONE
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dc.subject
TERMS OF TRADE
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dc.subject
TIMBER
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TIME PERIODS
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TOTAL FACTOR PRODUCTIVITY
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TOTAL FACTOR PRODUCTIVITY GROWTH
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dc.subject
TRAGEDY OF THE COMMONS
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dc.subject
TRANSPARENCY
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dc.subject
TRANSPARENCY INITIATIVE
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dc.subject
TRUSTS
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dc.subject
USES
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dc.subject
VALUE CHAIN
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dc.subject
WAGES
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dc.subject
WEALTH
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dc.subject
WORLD DEVELOPMENT INDICATORS
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dc.subject
WORLD MARKETS
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dc.title
Natural Resources in Latin America and the Caribbean : Beyond Booms and Busts?
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dc.title.alternative
Los recursos naturales en America Latina y el Caribe : mas alla de bonanzas y crisis?
en_US
okr.identifier.externaldocumentum
000334955_20100706062829
en_US
okr.identifier.internaldocumentum
12511333
en_US
okr.volume
1 of 1
en_US
okr.date.disclosure
2010-10-28
en_US
okr.topic
Private Sector Development :: E-Business
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okr.topic
Macroeconomics and Economic Growth :: Commodities
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okr.topic
Private Sector Development :: Emerging Markets
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okr.topic
Macroeconomics and Economic Growth :: Economic Theory & Research
en_US
okr.topic
Environment :: Environmental Economics & Policies
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okr.region.administrative
Latin America & Caribbean
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okr.region.geographical
Caribbean
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okr.region.geographical
Latin America
en_US
okr.identifier.report
55550
en_US
okr.identifier.doi
10.1596/978-0-8213-8482-4
en_US
okr.unit
Human Development Econ. (ECSH4)
en_US
okr.doctype
Publications & Research :: Publication
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okr.doctype
Publications & Research :: Publication
en_US
dc.rights.holder
World Bank
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okr.peerreview
Academic Peer Review
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okr.globalpractice
Macroeconomics and Fiscal Management
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okr.globalpractice
Environment and Natural Resources
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okr.globalpractice
Transport and ICT
en_US
okr.globalpractice
Trade and Competitiveness
en_US
okr.globalpractice
Trade and Competitiveness
en_US
okr.googlescholar.linkpresent
yes

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