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.

Drawing upon recent progress in development economics and political science, the book provides fresh analysis of the Caucasus and Central Asia (CCA) countries transition to a market economy by tracing the impact of natural resource endowment. The book examines the synergies between energy-rich and energy-poor states and highlights the practical consequences of both well-managed and poorly-managed deployment of energy.

Featuring contributions from prominent specialists on resource-driven economies, the book argues that unless CCA elites change the way in which they deploy natural...

Drawing upon recent progress in development economics and political science, the book provides fresh analysis of the Caucasus and Central Asia (CCA) countries transition to a market economy by tracing the impact of natural resource endowment. The book examines the synergies between energy-rich and energy-poor states and highlights the practical consequences of both well-managed and poorly-managed deployment of energy.

Featuring contributions from prominent specialists on resource-driven economies, the book argues that unless CCA elites change the way in which they deploy natural...