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Monocausalism versus Systems Approach to Development – The Possibility of Natural Resource-based Development

Allan Andersen and Björn Johnson ()
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Björn Johnson: Department of Business Studies, Aalborg University

Institutions and Economies (formerly known as International Journal of Institutions and Economies), 2014, vol. 6, issue 2, 27-54

Abstract: Development economics has over the years produced several one-factor explanations that we term as “fundamentalisms”. The authors argue that these fundamentalisms are interdependent and complement each other, and hence, the process of economic development must be understood as systemic. The focus is on “production-structure fundamentalism” in the form of the resource curse. By use of empirical examples it is argued that resource-based development is possible by building institutions supporting development of new knowledge and competences. The paper concludes that rather than individual development factors, it is the by institutions sustained interdependency and interaction between different types of development factors that underlie development processes.

Keywords: Industrial structure; Innovation systems; Linkages; Natural resources; Structural change (search for similar items in EconPapers)
JEL-codes: N50 O13 O14 O30 Q00 (search for similar items in EconPapers)
Date: 2014
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