Understanding and Avoiding the Oil Curse in Resource-rich Arab Economies - Elbadawi, Ibrahim; Selim, Hoda
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For over eighty years the Arab region has derived massive wealth from its natural resources, yet the region's economies remain little diversified, while the oil market is experiencing major structural shifts with the advent of shale gas. Moreover, the resource itself is eventually exhaustible. Under these conditions economic prosperity cannot be sustainable. The critical question is how can the countries of this region escape the 'oil curse'? In this volume, leading economists argue that the curse is not a predestined outcome but a result of weak institutions and bad governance. A variety of…mehr

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Produktbeschreibung
For over eighty years the Arab region has derived massive wealth from its natural resources, yet the region's economies remain little diversified, while the oil market is experiencing major structural shifts with the advent of shale gas. Moreover, the resource itself is eventually exhaustible. Under these conditions economic prosperity cannot be sustainable. The critical question is how can the countries of this region escape the 'oil curse'? In this volume, leading economists argue that the curse is not a predestined outcome but a result of weak institutions and bad governance. A variety of analytical perspectives and examination of various international case studies leads to the conclusion that natural resources can only spur economic development when combined with sound political institutions and effective economic governance. This volume, with its unique focus on the Arab region, will be an important reference for researchers and policy makers alike.
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Autorenporträt
Ibrahim Elbadawi is Director of the Macroeconomics Research Department, Dubai Economic Council and Visiting Fellow at the Center for Global Development (CGD) in Washington, DC. He has been the thematic leader for the Economic Research Forum (ERF) research work on 'Natural Resources and Economic Diversification in the Arab World' since 2010. Until February 2009 he was Lead Economist at the Development Research Group of the World Bank and he also served as Research Director of the African Economic Research Consortium, Nairobi from 1993 to 1998. Elbadawi has published widely on several areas of macroeconomic and development policy. His regional specialization covers Africa and the Middle East, where he is widely networked with academic research and policy forums.