PHENOMENON OF PLENTY: THEORY AND DIAGNOSIS

Sergey Uzhegov
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Sergey Uzhegov: University of Sorbonne, France

Perspectives of Innovation in Economics and Business (PIEB), 2011, vol. 9, issue 3, 23-29

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: Phenomenon of Plenty; Dutch disease; oil; direct de-servisation; algorithm for diagnosis. (search for similar items in EconPapers)
JEL-codes: B22 C18 L71 O50 Q33 (search for similar items in EconPapers)
Date: 2011
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