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Resource-Led Growth

A Long-Term Perspective - The Relevance of the 1870-1914 Experience for Today's Developing Economies

  • Author: UNU
  • Publication date: September 2000
  • Page count: 68
  • Language(s) in this book: English
  • Sales number: 00.III.A.10

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About the product

The publication attempts to find out whether the 1870-1914 period was in some sense 'unique'; i.e. whether the success of the resource-rich economies during these years was built on a configuration of factors that is not likely to be replicated in future, or whether the episode contains lessons that are applicable a century later as well. Resource-led Growth presents three stylized views of resource-led development and sketches the picture of international trade in primary products and the migration of production factors between 1870 and 1914. Ultimately the publication introduces some models that may be used to analyze trade and factor movements in the context of resource-rich economies and provides some details of the experience of fifteen countries. Among the regions of recent settlement Canada, the United States, Australia and Argentina; Brazil, Costa Rica, Colombia, Ceylon, Malaya, Burma, Siam and the Gold Coast in the tropical group; and Bolivia, Chile and South Africa among the mineral exporters.