Transforming Non-Renewable Resource Economies (NREs)

July 23, 2015

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Bill Battaile, and Saurabh Mishra. Transforming Non-Renewable Resource Economies (NREs), (USA: International Monetary Fund, 2015) accessed November 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

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.

Subject: Exports, International trade, Labor productivity, National accounts, Personal income, Production, Productivity, Service exports

Keywords: Asia and Pacific, Caribbean, Central Asia, Commodity export data, Comparative advantage, Copper export value, Diversification, East Asia, Emerging market NREs, Export, Export basket, Exports, Global, Labor productivity, Manufacturing, Merchandise export, Middle income, NRE productivity improvement, NREs Weathered Post, Personal income, Product export, Productivity, Productivity growth, Resource base export, Resource curse, Service exports, Service import, Service sector, Services, World service export, WP

Publication Details

Pages:

61
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2015/171
Stock No:

WPIEA2015171
ISBN:

9781513573571
ISSN:

1018-5941

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