Pages tagged by "resource economics"

Internal and external balance: A new paradigm for resource-rich developing countries

Resource rich developing countries are identified by the high share of resource exports in GDP or total exports, and low levels of income per capita. We suggest two further typical features: that resource sectors are enclaves, and that foreign ownership of the resources sector is high (net factor income is large and negative). We incorporate these new features into a simple model of internal and external balance, and using this framework we suggest a new paradigm for policy-setting in resource-rich developing countries.

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