Phenomenon of Plenty: Theory and diagnosis

Sergey Uzhegov

Perspectives of Innovations, Economics and Business (PIEB), 2011, vol. 09, issue 3, 7

Abstract: Present study theoretically explores and empirically diagnoses the Phenomenon of Plenty - paradox of below-potential economic performance of nations generously endowed with natural resources, focusing on oil-rich CIS members: Russia, Azerbaijan, and Kazakhstan. Extending theoretical structure to proposed Four-Component Process it reports existence of direct de-servisation finding previously overlooked cause of oil paradox - downturn of non-tradable sector long-time lacking production forces. Application of elaborated 5-Sign Algorithm for Diagnosis of the Phenomenon of Plenty elicits its presence across evaluated nations.

Keywords: International; Development (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:ags:jrpieb:128653

DOI: 10.22004/ag.econ.128653

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