Natural Resources and Socio-Economic Progress

Abstract

The article reviews international debates on development problems of the resource-based economies. It draws atten tion to causes and mechanisms of the so-called "resource curse" and symptoms of systemic breakdowns and stagnant phenomena in resource-based economies named "Dutch disease". Specific attention is given to the role of national elites and institutions in the emergence of "Dutch disease", preservation of economic backwardness and/or de-industrialization of resource-rich countries. The author also considers new approaches to resolving the problem of'resource-curse", in particular, return to traditional instruments of economic diversification as industrialization and protectionism.

Keywords

• "ресурсное проклятье"
• "парадокс изобилия"
• "голландская болезнь»
• «эффект гронингена»
• "resource curse"
• "paradox of plenty"
• volatility of export revenues
• structural development problems
• systemic development problems
• sustainability of economic backwardness
• multistructural and multisectoral character of the economy
• terms of foreign trade
• national elites
• rent-oriented behavior
• lobbing
• a resource movement effect
• a spending effect? trade liberalization effect
• imperfect substitution
• "dutch disease"
• groningen effect
• sovereign wealth funds