ABSTRACT

Economic diversification remains at the top of the agenda for hundreds of regions around the world. From the single commodity economies of African countries and the Caribbean, to the many single industry regions of Europe and North America, as well as the oil and gas rich but volatile hydrocarbon economies. Economic diversification policies have been around for almost a century with varying degrees of success and failure.

 

Economic Diversification Policies in Natural Resource Rich Economies takes a special interest in the policy experiences of a set of different countries that have extractive industries representing significant drivers of their economies and subsequently are significant contributors to government revenues. It explores twelve cases including upper-middle to high income economies such as Canada, Australia, Iceland and Norway, emerging economies such as Latin America, the GCC (Saudi and UAE), Kazakhstan, Malaysia and Russia, as well as the developing economy of Uganda. Each chapter provides a review of economic diversification experiences including policy environment, diversification strategies, desired outcomes, the role of government, and a critical evaluation of achievements.

 

This book is suitable for those who study environmental economics, development economics and resource management.

chapter 1|8 pages

Economic diversification

New thinking
BySami Mahroum

chapter 3|22 pages

Diversification of the Saudi economy

Challenges and prospects
ByHatem Samman, Sheikh Shahnawaz

chapter 4|41 pages

Diversification in Latin American oil exporters

Was no intervention a better policy option?
ByIgor Hernandez, Osmel Manzano

chapter 5|18 pages

Economic diversification in Malaysia

Timing, path dependence and increasing returns
ByAbdillah Noh

chapter 6|30 pages

Diversification, Dutch disease and economic growth

Options for Uganda
ByThorvaldur Gylfason, Jean-Pascal Nguessa Nganou

chapter 7|27 pages

Economic diversification in Australia

ByJohn Phillimore, Kenneth Leong

chapter 8|28 pages

Economic diversification in Russia

Nuclear to the rescue?
ByLi-Chen Sim

chapter 9|33 pages

Kazakhstan’s diversification strategy

Are policies building linkages and promoting competition?
ByPeter Howie

chapter 10|31 pages

The role of institutions in economic diversification

The case of the UAE
ByHamed Al-Hashemi

chapter 11|28 pages

Double diversification with an application to Iceland

ByThorvaldur Gylfason, Per Magnus Wijkman

chapter 12|29 pages

Industrial diversification processes and strategies in an oil economy

Norway
ByOlav Wicken

chapter 13|4 pages

Old and new directions for economic diversification policies

ByYasser Al-Saleh