Natural Resources, Physical Capital and Institutions : Evidence from Eurasia

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dc.creatorVandycke, Nancy
dc.date2013-10-02T17:54:19Z
dc.date2013-10-02T17:54:19Z
dc.date2013-08
dc.date.accessioned2026-07-01T00:58:18Z
dc.descriptionNatural resource abundance can lead to strong economic growth if resource rents are well invested in physical assets and other forms of productive capital. This paper focuses on the case of the resource-abundant economies in Eurasia, which has been less documented in the literature on natural resource-led development than other parts of the world. The analysis shows that the stock of productive physical assets is relatively low, contrary to common perceptions about the Soviet system. The infrastructure that was inherited from the Soviet system primarily serves to meet basic human needs; few assets support the development of competitive and sustainable economies. At a deeper level, the paper documents that low accumulation of physical capital over the past two decades has been driven by weak institutions and economic policies associated with the presence of resource rents, along with a poor public investment management process. This paper complements existing empirical studies by presenting evidence on the mechanisms through which natural resources and physical capital have interacted in setting Eurasian economies on a fragile development path.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2013/08/18148311/natural-resources-physical-capital-institutions-evidence-eurasia
dc.identifierhttps://hdl.handle.net/10986/16019
dc.identifierhttps://doi.org/10.1596/1813-9450-6586
dc.identifier.urihttp://hdl.handle.net/123456789/413684
dc.languageEnglish
dc.languageen_US
dc.publisherWorld Bank, Washington, DC
dc.relationPolicy Research Working Paper;No. 6586
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectACCESSIBILITY
dc.subjectAFFILIATED ORGANIZATIONS
dc.subjectAGRICULTURE
dc.subjectAIR
dc.subjectAIR POLLUTION
dc.subjectAIRPORT
dc.subjectALTERNATIVE ENERGIES
dc.subjectASSETS
dc.subjectBENCHMARKS
dc.subjectCLIMATE CHANGE
dc.subjectCOMMODITY PRICES
dc.subjectCOMPETITIVENESS
dc.subjectCONGESTION
dc.subjectCOUNTRY COMPARISONS
dc.subjectDEVELOPMENT POLICY
dc.subjectDOMESTIC INVESTMENT
dc.subjectDRIVING
dc.subjectECONOMIC ASSISTANCE
dc.subjectECONOMIC GEOGRAPHY
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC OUTLOOK
dc.subjectECONOMIC POLICIES
dc.subjectELECTRICITY
dc.subjectEMPLOYMENT
dc.subjectEXPORTS
dc.subjectEXPROPRIATION
dc.subjectFARES
dc.subjectFINANCIAL CRISIS
dc.subjectFISCAL POLICY
dc.subjectFIXED ASSETS
dc.subjectFIXED CAPITAL
dc.subjectFREIGHT
dc.subjectFUEL
dc.subjectFUEL CONSUMPTION
dc.subjectFUTURE RESEARCH
dc.subjectGAS PRICES
dc.subjectGDP
dc.subjectGDP PER CAPITA
dc.subjectGROWTH RATE
dc.subjectHIGHWAYS
dc.subjectHUMAN CAPITAL
dc.subjectINDEX NUMBERS
dc.subjectINFLATION
dc.subjectINFLATION RATE
dc.subjectINFRASTRUCTURE DEVELOPMENT
dc.subjectINFRASTRUCTURE PROJECTS
dc.subjectINLAND TRANSPORT
dc.subjectINLAND WATERWAYS
dc.subjectINTERNATIONAL DEVELOPMENT
dc.subjectINVENTORIES
dc.subjectINVESTMENT MANAGEMENT
dc.subjectINVESTMENT RATE
dc.subjectINVESTMENT RATES
dc.subjectINVESTMENT REQUIREMENTS
dc.subjectINVESTMENT SPENDING
dc.subjectLAND USE
dc.subjectLONG-DISTANCE
dc.subjectMACROECONOMIC POLICY
dc.subjectMOTOR VEHICLES
dc.subjectNATIONAL ECONOMY
dc.subjectNATURAL ENDOWMENTS
dc.subjectNATURAL RESOURCES
dc.subjectNET SAVINGS
dc.subjectNOW ACCOUNTS
dc.subjectPASSENGER TRAFFIC
dc.subjectPER CAPITA INCOME
dc.subjectPOLITICAL ECONOMY
dc.subjectPRICE STABILITY
dc.subjectPRIVATE INVESTMENT
dc.subjectPRIVATE INVESTMENTS
dc.subjectPRIVATE SECTOR
dc.subjectPRIVATE SECTOR PARTICIPATION
dc.subjectPRIVATIZATION
dc.subjectPRODUCTIVE ASSETS
dc.subjectPRODUCTIVE CAPITAL
dc.subjectPRODUCTIVITY
dc.subjectPRODUCTIVITY GROWTH
dc.subjectPUBLIC
dc.subjectPUBLIC INVESTMENT
dc.subjectPUBLIC SECTOR
dc.subjectPUBLIC SERVICES
dc.subjectPUBLIC TRANSPORT
dc.subjectQUALITY OF TRANSPORT
dc.subjectRAIL
dc.subjectRAIL NETWORKS
dc.subjectRAILWAY
dc.subjectRAILWAY LINES
dc.subjectRAILWAYS
dc.subjectRENTS
dc.subjectROAD
dc.subjectROAD CONDITIONS
dc.subjectROAD DESIGN
dc.subjectROAD DESIGN STANDARDS
dc.subjectROAD MAINTENANCE
dc.subjectROAD NETWORK
dc.subjectROAD QUALITY
dc.subjectROAD TRAFFIC
dc.subjectROADS
dc.subjectRUNWAY
dc.subjectRUNWAYS
dc.subjectSANITATION
dc.subjectSOCIAL WELFARE
dc.subjectSUBWAY
dc.subjectSUBWAY LINES
dc.subjectTAX
dc.subjectTAXATION
dc.subjectTELECOMMUNICATIONS
dc.subjectTOLL
dc.subjectTOLL ROADS
dc.subjectTOTAL FACTOR PRODUCTIVITY
dc.subjectTRADE FLOWS
dc.subjectTRADE VOLUME
dc.subjectTRAFFIC SPEED
dc.subjectTRAM
dc.subjectTRANSACTION COSTS
dc.subjectTRANSIT
dc.subjectTRANSPORT
dc.subjectTRANSPORT CORRIDORS
dc.subjectTRANSPORT COSTS
dc.subjectTRANSPORT INFRASTRUCTURE
dc.subjectTRANSPORT SECTOR
dc.subjectTRANSPORT SERVICES
dc.subjectTRANSPORTATION
dc.subjectTRANSPORTATION COSTS
dc.subjectTUNNELS
dc.subjectURBAN GROWTH
dc.subjectURBANIZATION
dc.subjectVOLUME OF TRAFFIC
dc.subjectWATER USE
dc.subjectWEALTH
dc.titleNatural Resources, Physical Capital and Institutions : Evidence from Eurasia

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