Title:
Beyond the curse : policies to harness the power of natural resources
Author:
Arezki, Rabah.
ISBN:
9781616351458
Publication Information:
[Washigton, D.C.] : International Monetary Fund, c2011.
Physical Description:
xi, 275 p. ; 23 cm.
General Note:
"This book is based on a high-level seminar that took place in Algiers on November 4th and 5th, 2010, under the title Natural Resources, Finance, and Development: Confronting Old and New Challenges. The seminar, organized by the Central Bank of Algeria and the IMF Institute ..."--P. 1.
Contents:
Overview / Primary commodities : historical perspectives and prospects / Economic diversification in resource-rich countries / Finance and oil : is there a resource curse? / The economics of sovereign wealth funds : lessons from Norway / Primary commodity price series : lessons for policymakers in resource-rich countries / Sustainable fiscal policy for mineral-base economies / Fiscal policy in commodity-exporting countries : stability and growth / How can commodity exporters make fiscal and monetary policy less procyclical? / Natural resources management and financial stability : evidence from Algeria / Copper, the real exchange rate and macroeconomic fluctuations in Chile / The political economy of reform in resource-rich countries / Terms of trade and growth of resource economies : contrasting evidence from two African countries
Abstract:
Countries with an abundance of natural resources, many of which are in sub-Saharan Africa, often show a record of relatively poor economic performance compared with non-resource-rich countries. The chapters in this volume explore the potential challenges to countries with abundant natural resources and ways to manage these challenges so as to reap the benefits of resource wealth while avoiding the pitfalls. The book is divided into five sections, which explore commodity markets and the macroeconomy, economic diversification and the role of finance, fiscal policy, exchange rates and financial stability, and governance. The ideas in this book were first presented at a seminar in November 2010 that was aimed primarily at policymakers in sub-Saharan Africa and brought together ministers, central bank governors, other senior policymakers, and well-known academics.