Guriev, Sergei
[Verfasser:in]
;
Plekhanov, Alexander
[Sonstige Person, Familie und Körperschaft];
Sonin, Konstantin
[Sonstige Person, Familie und Körperschaft]
Erschienen in:European Bank for Reconstruction and Development Working Paper ; No. 108
Umfang:
1 Online-Ressource (44 p)
Sprache:
Englisch
DOI:
10.2139/ssrn.1520630
Identifikator:
Entstehung:
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments December 8, 2009 erstellt
Beschreibung:
Commodity resources offer vast opportunities for development. In the long run, however, the performance of commodity-rich countries tends to fall short of expectations, as commodity rents induce macroeconomic volatility and undermine incentives to improve institutions. The paper looks at the strategies that countries can adopt to avoid the “resource trap.” These strategies aim at diversifying the economy, promoting financial development, building up stabilisation buffers that lower macroeconomic volatility, and reducing inequality. The resource-rich EBRD countries of operations have embraced these strategies to varying degrees, and with varying success. Improving institutions remains the key challenge