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Phenomenon of Plenty: Theory and diagnosis

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  • Uzhegov, Sergey

Abstract

Present study theoretically explores and empirically diagnoses the Phenomenon of Plenty - paradox of below-potential economic performance of nations generously endowed with natural resources, focusing on oil-rich CIS members: Russia, Azerbaijan, and Kazakhstan. Extending theoretical structure to proposed Four-Component Process it reports existence of direct de-servisation finding previously overlooked cause of oil paradox - downturn of non-tradable sector long-time lacking production forces. Application of elaborated 5-Sign Algorithm for Diagnosis of the Phenomenon of Plenty elicits its presence across evaluated nations.

Suggested Citation

  • Uzhegov, Sergey, 2011. "Phenomenon of Plenty: Theory and diagnosis," Perspectives of Innovations, Economics and Business (PIEB), Prague Development Center (PRADEC), vol. 9(3), pages 1-7, November.
    • Handle: RePEc:ags:jrpieb:128653
    DOI: 10.22004/ag.econ.128653
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    Keywords

    International Development;

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