Since the 1960s the economies of the resource-poor nations have grown much faster than those of the resource-abundant nations. This book explains the disappointing performance of resource-abundant nations by extending the growth accounting framework to include natural and social capital.

This up-to-date interdisciplinary critique of the new economic orthodoxy known as the Washington Consensus begins with a review of the original thesis by the originator of the term.

It is widely believed that natural mineral resources are desirable. However there is growing evidence that this may not always be the case. Indeed, it seems that natural assets can distort the economy to such a degree that the benefit actually becomes a curse.
In Sustaining Development in Mineral Economies, Richard Auty highlights these drawbacks and the devastating effect they can have on developing economies. With reference to six ore-exporters (viz. Peru, Bolivia, Chile, Jamaica, Zambia and Papua New Guinea) he outlines how things can go badly wrong. He particularly stresses...

The mineral economies are an important group of developing countries which have suffered a "resource curse" over the past 20 years--showing a poorer performance than resource-deficient neighbors. This book draws upon case-studies and analysis of nine countries to demonstrate the difficulties currently faced and the policies which will be required in the future in order to take advantage of finite mineral resources to maintain the economic and social conditions for sustaining growth.