Eesti Panga avatud seminaride sarja raames teeb käesoleva nädala reedel, 6. detsembril kell 14.00-15.30 ettekande Institute for Emerging Market Studies vanemteadur Christopher A. Hartwell, kes tutvustab uurimust „Institutions, Resource Rents, and Cleanliness: The Institutional Basis of Efficiency in Resource-Rich Countries”. Seminari töökeeleks on inglise keel. Kokkuvõtte seminaril esitlemisele tulevast uurimusest leiate käesoleva kutse lõpuosast.

Kõik huvilised on seminarile oodatud! Palun seminarile registreeruda hiljemalt 5. detsembril, andes teada oma osalussoovist kas meili teel [email protected], telefonitsi 6680 758 või alloleva registreerimisvormi kaudu.

Institutions, Resource Rents, and Cleanliness: The Institutional Basis of Efficiency in Resource-Rich Countries

Christopher Hartwell
Institute for Emerging Market Studies

 The “resource curse” is a familiar and recurring theme in development economics. But while resource abundance may lead to economic stagnation, a less-explored theme in the literature is its effect on the resource usage and materials-intensity in that particular country. Does resource abundance also lead to resource inefficiency? And if so, what can contribute to better usage of a country’s resources for development? This paper examines 167 countries from 1970-2011, both resource-abundant and resource-scarce, and concludes that on average, resource-abundant countries utilize resources less efficiently than countries with a scarcity of resources. Examining the institutional factors that may explain this disparity in usage, we find that several key institutions are necessary for increasing resource-use efficiency, including economic freedom writ large and private property in particular. By improving basic institutions, resource-rich countries can see more environmentally-sustainable growth.