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This book introduces the influence and impacts of green economy and green growth on sustainable economic development. Combining empirical and theoretical information, it provides detailed descriptions of state-of-the-art approaches, methods and initiatives from around the globe that illustrate green policies and demonstrate how green growth can be implemented on an international scale. It also includes analyses of specific issues, such as public policies and sustainable development plans that influence industry and increase trade in environmental goods and services – the way to a greener economy, green tourism, green agriculture, green learning and green equilibrium in modern society. Matters such as green procurement, environmentally oriented implementation strategies, and the importance of employee skills in the development of a sustainable future workforce are described, as well as a selection of tools that can be used to foster sustainable growth, green economies and green growth. The book also offers a timely contribution to the dissemination of approaches and methods that improve the way we perceive and utilize natural resources and the technologies designed to protect them. Puts forward new ideas for creating a more sustainable future.

Socioeconomic development has drawn increasing attention in academia, industries, and governments. The relationship between big data and its technologies and socioeconomic development has drawn certain attention in academia. Socioeconomic development depends not only on big data, but also on big data technologies. However, the relationship between big data and socioeconomic development is not adequately covered in current research. The Handbook of Research on Driving Socioeconomic Development With Big Data provides an original and innovative understanding of and insight into how the proposed theories, technologies, and methodologies of big data can improve socioeconomic development and sustainable development in terms of business and services, healthcare, the internet of everything, sharing economy, and more. Covering topics such as corporate social responsibility, management applications, and process mining, this major reference work is an excellent resource for data scientists, business leaders and executives, IT professionals, government officials, economists, sociologists, librarians, students, researchers, and academicians.

In light of the tremendous growth of frugal product and process innovations in both emerging markets and economies in the Global North, this book offers a clear understanding of this new direction of technological change within a Schumpeterian analytical framework. Characterising frugal innovation as a new technological paradigm, it illuminates the relationship between frugality and sustainability.Using important case studies from around the globe, Christian Le Bas explores the key characteristics of frugal innovations: products with fewer artefacts, decreasing technological complexity and design simplification. Chapters systematically synthesise economic knowledge on the topic, mapping the environmentally positive consequences of frugal innovation and identifying the crucial socio-economic and ecological contemporary issues that frugal innovation can help resolve.Concise and timely, this book will be a useful resource for economics and management scholars and students. The tools for understanding the nature and scope of frugal innovation, as well as insights on sustainable innovation, also make this an important read for managers, decision-makers and stakeholders.

This book presents an assessment of endeavors towards Financial Inclusion and its role in Sustainable development. An attractive feature is that it deals with almost all the contemporary issues essential for reaching UN Sustainable Development Goals. This book would be an exclusive and authentic source to the students of undergraduates, postgraduates and professional courses in Commerce and Management. This manuscript is divided into nine chapters.The book looks at various salient topics, including financial inclusion measurement, the impact of various financial inclusion indicators on development outcomes and macroeconomic volatility using aggregate data, and the effects of financial inclusion on poverty and development outcomes using microdata. Using the recently adopted Sustainable Development Goals as an overall framing of the issues, it exhibits how poor and disadvantaged women and men can be bankable if the adequate facilitation for maximizing opportunities and addressing constraints. This book attempts to cover different dimensions of Financial Inclusion towards attaining Sustainability and Circular Economy through financing instruments and investments. This book highlights different goals of UN SDG as an Initiative towards Inclusive Growth and Circular Economy, which is also influenced by Micro Finance Institutions and NBFCs.This book will be an indispensable source for the Students of PG and UG programs, Researchers and practitioners from areas of Commerce, Economics and Management and the faculty members and professionals like bankers and financial consultants. We hope this book will meet the requirement of all the categories of readers.

The problems related to the process of industrialisation such as biodiversity depletion, climate change and a worsening of health and living conditions, especially but not only in developing countries, intensify. Therefore, there is an increasing need to search for integrated solutions to make development more sustainable. The United Nations has acknowledged the problem and approved the “2030 Agenda for Sustainable Development”. On 1st January 2016, the 17 Sustainable Development Goals (SDGs) of the Agenda officially came into force. These goals cover the three dimensions of sustainable development: economic growth, social inclusion and environmental protection. The Encyclopedia of the UN Sustainable Development Goals comprehensively addresses the SDGs in an integrated way. The Encyclopedia encompasses 17 volumes, each one devoted to one of the 17 SDGs.This volume addresses SDG 8, namely'Promote sustained, inclusive andsustainable economic growth, full and productive employment and decent work for all'and contains the description of a range of terms, to allow a better understanding and foster knowledge. The predominant economic model is promoting a lopsided economic growth that is further increasing the gap between the have and the have-nots. This SDG is not just proposing the attainment of more just and empowering economic models, but it also puts at the forefront the well-being of workers by striving to provide employment and better working conditions that respect the dignity of workers.Concretely, the defined targets are:Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 per cent gross domestic product growth per annum in the least developed countriesAchieve higher levels of economic productivity through diversification, technological upgrading and innovation, including through a focus on high-value added and labour-intensive sectorsPromote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises, including through access to financial servicesImprove progressively, through 2030, global resource efficiency in consumption and production and endeavour to decouple economic growth from environmental degradation, in accordance with the 10-Year Framework of Programmes on Sustainable Consumption and Production, with developed countries taking the leadAchieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal valueSubstantially reduce the proportion of youth not in employment, education or trainingTake immediate and effective measures to eradicate forced labour, end modern slavery and human trafficking and secure the prohibition and elimination of the worst forms of child labour, including recruitment and use of child soldiers, and end child labour in all its formsProtect labour rights and promote safe and secure working environments for all workers, including migrant workers, in particular women migrants, and those in precarious employmentDevise and implement policies to promote sustainable tourism that creates jobs and promotes local culture and productsStrengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for allIncrease Aid for Trade support for developing countries, in particular least developed countries, including through the Enhanced Integrated Framework for Trade-related Technical Assistance to Least Developed CountriesDevelop and operationalize a global strategy for youth employment and imple

This book provides an in-depth analysis of and discussion about the relationship between green tourism, economic growth and globalization. It explores numerous topics relating to tourism including transport efficiency, foreign direct investment, clean energy, climate change dynamics and advances in sustainable tourism management. The book begins with discussion of sustainable tourism and economic growth, particularly focusing on management strategies. It then presents the relationship between energy use and tourism, looking at green energy and energy shock. It then discusses transport efficiency, tourism efficiency and financial growth in both developed and developing countries. This book is of interest to researchers, policymakers, and postgraduate students in the areas of energy, environmental and tourism economics.

Degrowth is an emerging social movement that overlaps with proposals for systemic change such as anti-globalization and climate justice, commons and transition towns, basic income and Buen Vivir. Degrowth in Movement(s) reflects on the current situation of social movements aiming at overcoming capitalism, industrialism and domination. The essays ask: What is the key idea of the respective movement? Who is active? What is the relation with the degrowth movement? What can the degrowth movement learn from these other movements and the other way around? Which common proposals, but also which contradictions, oppositions and tensions exist? And what alliances could be possible for broader systemic transformations? Corinna Bukhart, Matthias Schmelzer, and Nina Treu have curated an impressive demonstration that there are, beyond regressive neoliberalism and techno-fixes, emancipatory alternatives contributing to a good life for all. Degrowth in Movement(s) explores this mosaic for social-ecological transformation - an alliance strengthened by diversity.

The promotion of economic development is a recurrent area of interest, both in the policy ground as well as in the academic arena. Developed and developing countries are aware that there are pending issues to be solved. Trying to offer a response to some of them, the Sustainable Development Goals (SDGs) or the 2030 Agenda of the United Nations balance social, economic and environmental factors which are in turn the pillars for sustainable economic growth. In this context, social changes, innovations, and technological advances would play a crucial role. But the needed changes require adequate economic policies aimed to promote sustainable economic development. Joint to this, the past financial and economic crisis has questioned the usefulness of several paradigms accepted by the academy and has also favored the research on economic policies. In the current globalized world, the new approaches to conduct economic policies, and the practical lessons that emerge from empirical analysis, are revealed as necessary tools to understand international economic relations. In this book, we provide some contributions that show the most recent approaches showing to which extent economic policies would overcome a sustainable economic development. First, we will review the current situation and the perspectives of development theories and policies. Next, we will show the scope of both demand-side and supply-side policies, when trying to achieve economic development. Finally, we will show several examples of how developing countries from the Latin America area are dealing with the current situation after the economic crisis, in light of the Sustainable Development Goals. Our results provide a vast and comprehensive analysis of the situation, the perspective and the proposals for the future of the economic policies for development.

This book uses a critical political economy approach to develop an historically and politically grounded set of strategies for states to move toward a post-growth, decarbonised global economy. It begins by examining the social and ecological costs of and limits to economic growth and determines that significant decarbonisation of the global economy can only be achieved if conventional growth-based economies are replaced by an alternative post-growth economy.Set apart from many other works in the field by its critical political economy approach to policy development, this book offers the reader three distinctive features. First, it places the analysis in historical context in order to demonstrate how the global political economy is constantly changing with respect to distributions of wealth, power and fundamental norms, and explores how states might harness and transform these contingent patterns in a post-growth direction. Second, the book is not only concerned with developing and advocating post-growth policies, but also with how these measures can be incorporated into the high-level domestic and international strategies pursued by states to ensure their political legitimacy and economic and geopolitical survival. Third, rather than proposing an idealised and politically naïve model of socioecological transformation, the proposed post-growth policy framework is highly cognisant of the geopolitical and international economic pressures facing states and demonstrates how these can be managed in the transition toward a post-growth economy.This book represents an invaluable resource for policymakers, academics, activists and students wishing to study or contribute to the transition to a post-growth, decarbonised economy.

This contributed volume presents the outcomes of multidisciplinary studies on the problem of sustainable economic development. The key issues addressed here are economic transformation, crisis management, formation and implementation of industrial policy in the innovative economy, and the development of individual industries (oil refining, transport, education, tourism, the financial sector, etc.), as well as the problem of resistance to changes in the economy. Special attention is paid to economic growth under unstable conditions and the impact of digitalization on the development of economic processes. This book is dividided into five parts, the first of which deals with factors and conditions determining the sustainable development of different socio-economic systems, as well as issues in connection with the post-crisis development of regional economies. In turn, the second part is devoted to an analysis of the innovative development of the economy, risk assessment for innovation projects, readiness for changes and innovations, and various instruments of innovative economic development. Prospects for the digitalization of the economy and the current changes in economic systems caused by digitalization are considered in the third part of the book. In the fourth part, the authors discuss the specific features of labor market development, and professional competencies that will be essential to the sustainable development of the economy. In closing, the fifth part presents sectoral and intra-organizational aspects of sustainable economic development.

Our planet faces massive economic, social, and environmental challenges. To deal with these challenges, the United Nations has promoted 17 Sustainable Development Goals (SDGs) to define global priorities and aspirations for 2030, and Governments worldwide have already agreed on these goals. In order to approach them practically, private and public organizations have to contribute to make SDGs happen by identifying and executing sustainable strategies as key drivers of their visions and business models. Building on the emerging concept of Integrated Thinking (IT), this book explores how modern organizations can leverage a long-term integrated strategy to reconcile financial stability with social and environmental sustainability and create enduring value for all stakeholders.By focusing on the value-creating role of business organizations in delivering on the promise of sustainable and inclusive development, the book enriches the debate on Integrated Thinking and Integrated Reporting (IR), with particular emphasis on the value creation process.This book offers an opportunity to discuss the way in which business organisations can rethink their management processes, accounting tools and reporting solutions, as they strive for both competitiveness and growth while contributing to the achievement of the SDGs, and long-term value creation more broadly. Based on the analysis of different case studies, the book explores how organizations are approaching these challenges and how they are connecting SDGs, to business models and strategies. Analysing the impact of SDGs on materiality, connectivity, and stakeholder engagement, this book provides an insight into how Integrated Thinking, Management and Reporting is currently practiced and in which way these managerial innovations can contribute to SDGs.

Understanding Development offers a comprehensive introduction to the multidimensional and evolving nature of international development in the contemporary world. This new edition has been fully revised and expanded to incorporate the key events, trends and debates that are shaping development today, such as humanitarianism and the global refugee crisis, the growing number of fragile states, and the contested nature of trade and trade deals. Building on the book's original framework, the second edition also includes three new chapters which explore development in relation to global policy formation, focusing on the end of the UN Millennium Development Goals in 2015 and the start of the UN Sustainable Development Goals, which will run until 2030. Designed to offer something different to the standard introductions to the topic, this issues-driven text examines the debates that have generated the most interest and passion among practitioners and non-practitioners alike. Always attentive to the contested and plural nature of the field, it makes the case for a genuinely interdisciplinary approach which takes full account of the impact of globalization. Both wide-ranging and critical, Understanding Development is the essential student guide to one of the most challenging subjects of our age.

A positive agenda for achieving the Sustainable Development Goals by 2030All 193 member nations of the United Nations agreed in September 2015 to adopt a set of seventeen'Sustainable Development Goals,'to be achieved by 2030. Each of the goals—in such areas as education and health care —is laudable in and of itself, and governments and organizations are working hard on them. But so far there is no overall, positive agenda of what new things need to be done to ensure the goals are achieved across all nations.In a search of fresh approaches to the longstanding problems targeted by the Sustainable Development Goals, the Japan International Cooperation Agency and the Global Economy and Development program at Brookings mounted a collaborative research effort to advance implementation of Agenda 2030. This edited volume is the product of that effort.The book approaches the UN's goals through three broad lenses.The first considers new approaches to capturing value. Examples include Nigeria's first green bonds, practical methods to expand women's economic opportunities, benchmarking to reflect business contributions to achieving the goals, new incentives for investment in infrastructure, and educational systems that promote cross-sector problem solving.The second lens entails new approaches to targeting places, including oceans, rural areas, fast-growing developing cities, and the interlocking challenge of data systems, including geospatial information generated by satellites.The third lens focuses on updating governance, broadly defined. Issues include how civil society can align with the SDG challenge; how an advanced economy like Canada can approach the goals at home and abroad; what needs to be done to foster new approaches for managing the global commons; and how can multilateral institutions for health and development finance evolve.

Economic growth is one of the primary goals for all countries. There are many factors that contribute to a healthy and stable economy, and studying these emerging methods and techniques can aid in creating sustainable economic growth. Business Infrastructure for Sustainability in Developing Economies is a comprehensive reference source filled with informative discussions on the socio-economic expansion of developing nations. Featuring dynamic topics such as supply chain management, foreign trade deficits, service quality, and sustainable energy solutions, this book is an ideal resource for business managers, practitioners, professionals, and researchers who are interested in discovering the most recent trends and solutions in sustainable economic growth.

This book describes the importance of integration and clustering in creating sustainable economic growth. Modern economic conditions demonstrate the need for governmental stimulation of cluster initiatives in entrepreneurship, and make it necessary to study the experience of developed countries in the sphere of stimulation of cluster initiatives in entrepreneurship, and to offer recommendations for improving the system of state stimulation of these initiatives. The authors conclude that at present, innovational economy is an economic system that functions on the basis of business networks, as this model offers innovational cooperation between specialists from various scientific and technical spheres, between organizations of various sizes (large, medium, and small), and between groups of various types of companies. Cluster strategy in modern global practice is one of the most important tools of public policy for increasing the competitiveness of national economies. This means that the most competitive spheres develop on the basis of the cluster principle, and support for cluster building increases a country's economic competitiveness.

Industrial policy, once relegated to resource allocation, technological improvements, and the modernization of industries, should be treated as a serious component of sustainability and developmental economics. A rich set of complimentary institutions, shared behavioral norms, and public policies have sustained economic growth from Britain's industrial revolution onwards. This volume revisits the role of industrial policy in the success of these strategies and what it can offer developed and developing economies today. Featuring essays from experts invested in the expansion of industrial policies, topics discussed include the most effective use of industrial policies in learning economies, development finance, and promoting investment in regional and global contexts. Also included are in-depth case studies of Japan and India's experience with industrial policy in the banking and private sector. One essay revisits the theoretical and conceptual foundations of industrial policy from a structural economics perspective and another describes the models, packages, and transformation cycles that constitute a variety of approaches to implementation. The collection concludes with industrial strategies for facilitating quality growth, realizing more sustainable manufacturing development, and encouraging countries to industrialize around their natural resources.

The pursuit of sustainable development and smart growth is a main challenge today in countries around the world. Social capital is an asset of their territorial communities. It is also a precondition for national and local policies that aim to better the economic base and quality of life for all. This change is socially diffused, economically sustainable over time, and smart in its content. A significant stock of social capital facilitates such results because it links into the process of development planning institutional decision makers and socioeconomic stakeholders who share trust, solidarity norms, and a community vision. In the last thirty years, social capital has become a forceful concept in the social sciences, the subject of many scholarly works and a topic of keen interest and debate in policy circles. Yet the main focus has been on defining and measuring social capital, with little attention given to its value in promoting development policies.Social Capital in Development Planning updates and advances the debate on social capital through the analysis of the application of the concept of social capital to programs for sustainable and smart socioeconomic development; empirical findings; and a new paradigm for development planning.

Economic growth, reflected in increases in national output per capita, makes possible an improved material standard of living and the alleviation of poverty. Sustainable development, popularly and concisely defined as ‘meeting the needs of the present generations without compromising the ability of future generations to meet their needs,'directly addresses the utilization of natural resources, the state of the environment, and intergenerational equity.Now in its second edition, Economic Growth and Sustainable Development features expanded discussion of income distribution, social capital and the insights of behavioural economics for climate change mitigation. Boxed case studies have been added which explore the impact of economic growth on people and countries in both the developed and developing world. This text addresses the following fundamental questions: What causes economic growth? Why do some countries grow faster than others? What accounts for the extraordinary growth in the world's population over the past two centuries? What are the current trends in population and will these trends continue? How do we measure sustainable development and is sustainable development compatible with economic growth? Why is climate change the greatest market failure of all time? What can be done to mitigate climate change and global warming? With a blend of formal models, empirical evidence, history and policy, this text provides a coherent and comprehensive treatment of economic growth and sustainable development. It is suitable for those who study development economics, sustainable development and ecological economics.

Why do some countries'economies struggle to develop, even when they are the focus of so much research and international funding? While recognizing that the obstacles facing poor nations are many and complex, Rabie proposes that the roots of most obstacles are sociocultural; thus, sociocultural transformation and economic restructuring can only be successful when treated as interconnected, mutually beneficial objectives. A Theory of Sustainable Sociocultural and Economic Development outlines an innovative model capable of identifying the major obstacles hindering poor nations'development in general, and the sociocultural and political obstacles in particular, placing them in their proper historical contexts, and addressing them comprehensively.

Economic growth, reflected in increases in national output per capita, makes possible an improved material standard of living. Sustainable development, popularly and concisely defined as ‘meeting the needs of the present generations without compromising the ability of future generations to meet their needs,'directly addresses the utilization of natural resources, the state of the environment, and intergenerational equity. Fundamental questions addressed in this textbook include: What causes economic growth? Why do some countries grow faster than others? What accounts for the extraordinary growth in the world's population over the past two centuries? What are the current trends in population and will these trends continue? Are there limits to economic growth and population growth due to resource constraints and environmental thresholds? Is sustainable development compatible with economic growth? Can sustainable development be attained without addressing the extreme poverty that afflicts over a billion of the world's population? This interdisciplinary textbook uses a blend of formal models, empirical evidence, history and policy to provide a coherent and comprehensive treatment of economic growth and sustainable development.

Ever since Adam Smith, economists have been preoccupied with the puzzle of economic growth. The standard mainstream models of economic growth were and often still are based either on assumptions of diminishing returns on capital with technological innovation or on endogenous dynamics combined with a corresponding technological and institutional setting. An alternative model of economic growth emerged from the Cambridge School of Keynesian economists in the 1950s and 1960s. This model - developed mainly by Luigi Pasinetti - emphasizes the importance of demand, human learning and the growth dynamics of industrial systems. Finally, in the past decade, new mainstream models have emerged incorporating technology or demand-based structural change and extending the notion of balanced growth. This collection of essays reassesses Pasinetti's theory of structural dynamics in the context of these recent developments, with contributions from economists writing in both the mainstream and the Cambridge Keynesian traditions and including Luigi Pasinetti, William Baumol, Geoffrey Harcourt and Nobel laureate Robert Solow.

In a period of increasing globalization and rapid growth in emerging countries, recognizing sources of regional competitiveness is of paramount importance. This timely and informative book identifies and analyzes changes in the origins of regional advantage. The expert contributors illustrate that sources of regional competitiveness are strongly linked with spatially observable yet increasingly flexible realities, and include building advanced and efficient transport, communications and energy networks, changing urban and rural landscapes, and creating strategic and forward-looking competitiveness policies. They investigate long-term interactions between regional competitiveness and urban mobility, as well as the connections that link global sustainability with local technological and institutional innovations, and the intrinsic diversity of spatially rooted innovation processes. A prospective analysis on networks and innovation infrastructure is presented, global environmental issues such as climate change and energy are explored, and new policy perspectives - relevant world-wide - are prescribed. Networks, Space and Competitiveness will prove an invaluable resource for academics, students and researchers across a range of fields including international and regional economics, regional science, economic geography and international business. Contributors: C.R. Azzoni, R.N. Baleiras, A. Bhattacharjee, R. Capello, J.I. Carruthers, E.A. Castro, T.P. Dentinho, P.C. Ferrao, A.M. Fuertes Eugenio, M. Grillitsch, E.A. Haddad, C. Hoglinger, J.L. Marques, C.S. Silva, K. Spiekermann, F. Todtling, J.M. Viegas, M. Wegener

Widely regarded as the authoritative text on development geography, this volume examines the nature and causes of global inequality and critically analyzes contemporary approaches to economic development across the third world. Students gain a deeper understanding of the interacting dynamics of culture, gender, race, and class; biophysical factors, such as climate, population, and natural resources; and economic and political processes—all of which have led to the present-day disparities between the first and third worlds. Numerous examples, sidebars, and figures illustrate how people in the Global South are experiencing and contesting the forces of globalization.

Our world seems entangled in systems increasingly dominated by power, greed, ignorance, self-deception and denial, with spiralling inequity and injustice. Against a backdrop of climate change, failing ecosystems, poverty, crushing debt and corporate exploitation, the future of our world looks dire and the solutions almost too monumental to consider. Yet all is not lost. Robert Chambers, one of the?glass is half full? optimists of international development, suggests that the problems can be solved and everyone has the power at a personal level to take action, develop solutions and remake our world as it can and should be. Chambers peels apart and analyses aspects of development that have been neglected or misunderstood. In each chapter, he presents an earlier writing which he then reviews and reflects upon in a contemporary light before harvesting a wealth of powerful conclusions and practical implications for the future. The book draws on experiences from Africa, Asia and elsewhere, covering topics and concepts as wide and varied as irreversibility, continuity and commitment; administrative capacity as a scarce resource; procedures and principles; participation in the past, present and future; scaling up; behaviour and attitudes; responsible wellbeing; and concepts for development in the 21st century.

This publication considers the key public policy challenges facing the international community in order to achieve balanced, equitable and sustainable development beyond the Millennium Development Goal targets for 2015. Issues considered include: agriculture and rural development, world trade policy reform, poverty reduction, sustainable energy policies, water resources, water supply and sanitation, biodiversity and global environmental challenges, forestry conservation and development, and strategic priorities for social development.

Jan Pronk The role of institutions in economic development has been debated at length. It is a major chapter in the history of economic thought. It was also a key - sue in comparisons of the effectiveness of Eastern and Western economic systems. Understanding the variety of social and cultural institutions has - ways been crucial in analysing development processes in Africa, Asia, the Middle East and Latin America. Less attention has been given to institutions in studies of the economic performance of Western countries. This may be because economic policies in the West were mostly oriented to the short and medium terms rather than to the long-term perspective. In the short run ins- tutions are given, in the long run they lend themselves for change. From the outset, economic institutions (e.g. markets, enterprises) and their underlying values (e.g. efficiency, economicfreedom) received much - tention. Similar attention was given to political institutions (the state, government, the law) and values (democracy, accountability, human rights). Thought also turned to social institutions (entrepreneurship, the middle class, the family household, land-tenure systems) and social values (tradition, gender and age relations, justice). Studies soon followed of cultural insti- tions (religion, ethnicity) and values (material consumerism or the bond between man and nature). Without the insight gained by studying insti- tions, economics would have become a dull discipline.

Since the 1960s the per capita incomes of the resource-poor countries have grown significantly faster than those of the resource-abundant countries. In fact, in recent years economic growth has been inversely proportional to the share of natural resource rents in GDP, so that the small mineral-driven economies have performed least well and the oil-driven economies worst of all. Yet the mineral-driven resource-rich economies have high growth potential because the mineral exports boost their capacity to invest and to import.'Resource Abundance and Economic Development'explains the disappointing performance of resource-abundant countries by extending the growth accounting framework to include natural and social capital. The resulting synthesis identifies two contrasting development trajectories: the competitive industrialization of the resource-poor countries and the staple trap of many resource-abundant countries. The resource-poor countries are less prone to policy failure than the resource-abundant countries because social pressures force the political state to align its interests with the majority poor and follow relatively prudent policies. Resource-abundant countries are more likely to engender political states in which vested interests vie to capture resource surpluses (rents) at the expense of policy coherence. A longer dependence on primary product exports also delays industrialization, heightens income inequality, and retards skill accumulation. Fears of'Dutch disease'encourage efforts to force industrialization through trade policy to protect infant industry. The resulting slow-maturing manufacturing sector demands transfers from the primary sector that outstrip the natural resource rents and sap the competitiveness of the economy. The chapters in this collection draw upon historical analysis and models to show that a growth collapse is not the inevitable outcome of resource abundance and that policy counts. Malaysia, a rare example of successful resource-abundant development, is contrasted with Ghana, Bolivia, Saudi Arabia, Mexico, and Argentina, which all experienced a growth collapse. The book also explores policies for reviving collapsed economies with reference to Costa Rica, South Africa, Russia and Central Asia. It demonstrates the importance of initial conditions to successful economic reform.