How Institutions Affect Development in Resource-Based Countries
In a model of economic growth with three-factor production functions it is shown that economic growth rate in a resource-dependent economy depends on the distribution of income between «owners» of production factors - labour, capital, and natural production resources. Considering the constraints on distribution of income superposed by a possible conflict in the social groups apropos a choice of technologies and distribution of income.
By the end of the 2000s, the term "resource curse" had become so widespread that it had turned into a kind of magic keyword, not only in the scholarly language of the social sciences, but also in the discourse of politicians, commentators and analysts all over the world-—like the term "modernization" in the early 1960s or "transition" in the early 1990s. In fact, the aggravation of many problems in the global economy and politics, against the background of the rally of oil prices in 2004–2008, became the environment for academic and public debates about the role of natural resources in general, and oil and gas in particular, in the development of various societies. The results of numerous studies do not give a clear answer to questions about the nature and mechanisms of the influence of the oil and gas abundance on the economic, political and social processes in various states and nations. However, the majority of scholars and observers agree that this influence in the most of countries is primarily negative. Resource Curse and Post-Soviet Eurasia: Oil, Gas, and Modernization is an in-depth analysis of the impact of oil and gas abundance on political, economic, and social developments of Russia and other post-Soviet states and nations (such as Kazakhstan and Azerbaijan). The chapters of the book systematically examine various effects of "resource curse" in different arenas such as state building, regime changes, rule of law, property rights, policy-making, interest representation, and international relations in theoretical, historical, and comparative perspectives. The authors analyze the role of oil and gas dependency in the evolution and subsequent collapse of the Soviet Union, authoritarian drift of post-Soviet countries, building of predatory state and pendulum-like swings of Russia from "state capture" of 1990s to "business capture" of 2000s, uneasy relationships between the state and special interest groups, and numerous problems of "geo-economics" of pipelines in post-Soviet Eurasia.
The chapter of the book systematically examine various effects of resource curse in such arenas as rule of law and property rights in Russia in comparison with the other oil-and-gas exporting countries beginning from the XXI century.
In the foreword the author in detail states S.Kordonskii's believing concept that specificity of the Russian economy consists in domination in it of the estate beginning. It is mainly resource economy. A main objective of its subjects - struggle for an estate rent. Such design as characteristic both for Sovet and the Post-Soviet social and economic device.
The author in detail states S. Kordonskii's believing concept that specifi city of the Russian economy consists in domination in it of the estate beginning. It is mainly resource economy. A main objective of its subjects - struggle for an estate rent. Such design is characteristic both for Soviet and the Post-Soviet social and economic device.
Given many developing economies depend on primary commodities, the fluctuations of commodity prices may imply significant effects for the wellbeing of children. To investigate, this paper examines the relationship between child mortality and commodity price movements as reflected by country-specific commodity terms-of-trade. Employing a panel of 69 low and lower-middle income countries over the period 1970-2010, we show that commodity terms-of-trade volatility increases child mortality in highly commodity-dependent importers suggesting a type of ‘scarce’ resource curse. Strikingly however, good institutions appear able to mitigate the negative impact of volatility. The paper concludes by highlighting this tripartite relationship between child mortality, volatility and good institutions and posits that an effective approach to improving child wellbeing in low to lower-middle income countries will combine hedging, import diversification and improvement of institutional quality.
Smoking is a problem, bringing signifi cant social and economic costs to Russiansociety. However, ratifi cation of the World health organization Framework conventionon tobacco control makes it possible to improve Russian legislation accordingto the international standards. So, I describe some measures that should be taken bythe Russian authorities in the nearest future, and I examine their effi ciency. By studyingthe international evidence I analyze the impact of the smoke-free areas, advertisementand sponsorship bans, tax increases, etc. on the prevalence of smoking, cigaretteconsumption and some other indicators. I also investigate the obstacles confrontingthe Russian authorities when they introduce new policy measures and the public attitudetowards these measures. I conclude that there is a number of easy-to-implementanti-smoking activities that need no fi nancial resources but only a political will.
One of the most important indicators of company's success is the increase of its value. The article investigates traditional methods of company's value assessment and the evidence that the application of these methods is incorrect in the new stage of economy. So it is necessary to create a new method of valuation based on the new main sources of company's success that is its intellectual capital.