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'The Resource Curse' refers to the long-established notion central in development economics that countries rich in natural resources, particularly minerals and fuels, perform less well economically than countries with fewer natural resources. In other words, resources are an economic curse rather than a blessing. This short primer explores the complexities of this idea and the debates that surround it, in particular under what conditions the resource curse might operate, if not universal. Discussion ranges over the nature of resource booms, the benefits and costs of export-led growth, the problems of deindustrialisation and manufacturing base erosion, rent-seeking behaviour and corruption and the empirical evidence of the effects of natural resource dependence on growth.

Resource curse. --- Natural resources. --- National resources --- Natural resources --- Resources, Natural --- Resource-based communities --- Resource curse --- Curse, Resource --- Natural resources curse --- Paradox of plenty --- Economic development --- Economic aspects

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Globalisation and rapid social and environmental change in recent decades have brought into sharper focus not only the benefits but also the costs of economic development. The once assumed link between economic development and societal well-being is being increasingly questioned in the face of growing social and environmental problems and unfulfilled expectations concerning political and commercial decision-makers. The orthodox development dogma is being tested in particular in resource-based economies such as Western Australia, where globalisation pressures and the concomitant rise in the demand for natural resources highlight the difficulties of effectively balancing broader societal interests with those of industry and the state. This book provides a critical review of the socio-political, environmental and cultural state of play in Western Australia, offering an analysis of how resource-based developments are shaping the state and its people.

Sustainable development --- Economic development --- Resource curse --- Curse, Resource --- Natural resources curse --- Paradox of plenty --- Natural resources --- Development, Economic --- Economic growth --- Growth, Economic --- Economic policy --- Economics --- Statics and dynamics (Social sciences) --- Development economics --- Development, Sustainable --- Ecologically sustainable development --- Economic development, Sustainable --- Economic sustainability --- ESD (Ecologically sustainable development) --- Smart growth --- Sustainable economic development --- Environmental aspects --- Sustainable development. --- Development economics. --- Environmental economics. --- Environmental law. --- Political economy. --- Sustainable Development. --- Development Economics. --- Environmental Economics. --- Environmental Law/Policy/Ecojustice. --- International Political Economy. --- Economic theory --- Political economy --- Social sciences --- Economic man --- Environment law --- Environmental control --- Environmental protection --- Environmental quality --- Environmental policy --- Law --- Law and legislation --- Economic aspects --- Environmental policy. --- Environment and state --- Environmental management --- State and environment --- Environmental auditing --- Government policy --- Economics.

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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.

Diversification in industry --- Economic development --- Finance --- Fiscal policy --- Foreign exchange rates --- Monetary policy --- Natural resources --- Primary commodities --- Resource curse --- Sovereign wealth funds --- politique industrielle --- richesses naturelles --- Funds, Sovereign wealth --- SWFs (Sovereign wealth funds) --- Investment of public funds --- Curse, Resource --- Natural resources curse --- Paradox of plenty --- Basic commodities --- Commodities, Basic --- Commodities, Primary --- Primary products --- Commercial products --- National resources --- Resources, Natural --- Resource-based communities --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Exchange rates --- Fixed exchange rates --- Flexible exchange rates --- Floating exchange rates --- Fluctuating exchange rates --- Foreign exchange --- Rates of exchange --- Tax policy --- Taxation --- Finance, Public --- Funding --- Funds --- Economics --- Currency question --- Development, Economic --- Economic growth --- Growth, Economic --- Statics and dynamics (Social sciences) --- Development economics --- Industrial diversification --- Product diversification --- Input-output analysis --- Barriers to entry (Industrial organization) --- Multiproduct firms --- industrieel beleid --- natuurlijke rijkdommen --- Economic aspects --- Rates --- Government policy --- Natural resources. --- Resource curse. --- Fiscal policy. --- Monetary policy. --- Foreign exchange rates. --- Diversification in industry. --- Economic development. --- Primary commodities. --- Finance. --- Sovereign wealth funds. --- Ressources naturelles --- Politique fiscale --- Politique monétaire --- Taux de change --- Diversification (Economie politique) --- Développement économique --- Produits de base --- Finances --- Fonds souverains --- E-books --- Investments: Energy --- Exports and Imports --- Macroeconomics --- Public Finance --- Natural Resources --- Investments: Commodities --- Foreign Exchange --- Agricultural and Natural Resource Economics --- Environmental and Ecological Economics: General --- Commodity Markets --- Energy: General --- Fiscal Policy --- Metals and Metal Products --- Cement --- Glass --- Ceramics --- Environmental management --- Investment & securities --- Public finance & taxation --- International economics --- Currency --- Commodity prices --- Oil --- Metal prices --- Environment --- Prices --- Commodities --- Petroleum industry and trade --- Metals --- Chile