Transforming Non-Renewable Resource Economies (NREs)

62 Pages Posted: 14 Sep 2015

See all articles by Bill Battaile

Bill Battaile

World Bank

Saurabh Mishra

International Monetary Fund (IMF)

Date Written: July 2015

Abstract

This paper provides an empirical benchmarking of growth, productivity and export patterns for developing NREs against other low and middle income developing countries, to inform policy discussions and future analytical work. There is stark heterogeneity in the association of resource sector and overall growth outcomes, by commodity and degree of dependence. Over the long term, inter-sectoral growth dynamics have been more muted for NREs than other developing countries, especially at lower incomes. Despite productivity convergence in mining, as expected, productivity growth in manufacturing and services was generally lower in NREs. Exceptions are few, in East Asia and the CIS area which experienced broad-based productivity growth. NRE product exports are more concentrated and relatively less complex, though we find increasingly diversified service export baskets. Technological progress and specialization in trade in services may offer diversification options for the future.

Keywords: resource curse, diversification, income, productivity, gdp, development, Global Outlook, General

JEL Classification: F01, O40

Suggested Citation

Battaile, Bill and Mishra, Saurabh, Transforming Non-Renewable Resource Economies (NREs) (July 2015). IMF Working Paper No. 15/171, Available at SSRN: https://ssrn.com/abstract=2659529

Bill Battaile (Contact Author)

World Bank ( email )

1818 H Street, NW
Washington, DC 20433
United States

Saurabh Mishra

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

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