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Nature'S Blessing Or Nature'S Curse: The Political Economy Of Transition In Resource-Based Economies

Author

Listed:
  • Esanov, Akram
  • Raiser, Martin
  • Buiter, Willem

Abstract

This paper analyses the reform progress made in the energy-rich states of the Commonwealth of Independent States (CIS), Azerbaijan, Kazakhstan, Turkmenistan and Uzbekistan (AKTU for short) and contrasts their development to that in the resource-poor countries at the CIS periphery. The main argument of the paper is that far from being a blessing that would have allowed energy-rich countries to cushion the impact of reforms and thus make faster progress, energy rents have often been wasted or appropriated by the ruling elites. Progress in key structural reforms has in some cases lagged even behind other CIS countries and significant policy challenges need to be addressed if natural resource wealth is not to turn into a curse for the region.

Suggested Citation

  • Esanov, Akram & Raiser, Martin & Buiter, Willem, 2004. "Nature'S Blessing Or Nature'S Curse: The Political Economy Of Transition In Resource-Based Economies," Discussion Papers 18761, University of Bonn, Center for Development Research (ZEF).
    • Handle: RePEc:ags:ubzefd:18761
    DOI: 10.22004/ag.econ.18761
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    Citations

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    Cited by:

    1. Yuko Kinoshita & Nauro F. Campos, 2003. "Why Does Fdi Go Where it Goes? New Evidence From the Transition Economies," IMF Working Papers 2003/228, International Monetary Fund.
    2. Hamilton, Carl B, 2003. "Russia's European Economic Integration: Escapism and Realities," CEPR Discussion Papers 3840, C.E.P.R. Discussion Papers.
    3. Robinson, Peter & Govereh, Jones & Ndlela, Daniel, 2007. "Distortions to Agricultural Incentives in Zambia," Agricultural Distortions Working Paper Series 48516, World Bank.

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