The rent curse : natural resources, policy choice, and economic development / Richard M. Auty and Haydn I. Furlonge.

First edition.

9780191867330 (electronic book)

Oxford : Oxford University Press, 2019.

English

1 online resource : illustrations.

HD75

338.9

The resource curse is a variant of a wider rent curse that can also be driven by geopolitical rent, regulatory rent, and labour rent. Total rent can therefore be from one-tenth to two-fifths of GDP and sometimes more. Rent is detached from the activity that generates it and is up for grabs so it feeds contents for its capture and its deployment can radically impact the development trajectory for better or worse, all too often for worse. This text studies two rent driven models to suggest that low rent incentivises the elite to grow the economy efficiently, whereas high rent encourages rent siphoning for immediate enrichment at the expense of long-term growth.

The resource curse is a variant of a wider rent curse that can also be driven by geopolitical rent, regulatory rent, and labour rent. Total rent can therefore be from one-tenth to two-fifths of GDP and sometimes more. Rent is detached from the activity that generates it and is up for grabs so it feeds contents for its capture and its deployment can radically impact the development trajectory for better or worse, all too often for worse. This text studies two rent driven models to suggest that low rent incentivises the elite to grow the economy efficiently, whereas high rent encourages rent siphoning for immediate enrichment at the expense of long-term growth.

Includes bibliographical references and index.

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Description based on online resource; title from home page (viewed on January 9, 2019).

Oxford scholarship online.

Print version: 9780198828860

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