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Publications (29)
– The new structural financial economics framework
The primary role of finance is to serve the ‘real economy’¬—the part of the economy that produces goods and services. Yet in practice, the financial sector often excessively indulges in speculative activities rather than performing its main functions, such as channeling saving for productive...
In our book, we examine Chile's economic, social, and development policies over the past six decades. The focal point is the enduring influence of the neoliberal model—a model that took root in the mid-1970s under authoritarian conditions and persisted through democratic governments, albeit with...
– Time for a more ambitious redistribution and reparations agenda
The famous 1920s book The Great Gatsby, by F. Scott Fitzgerald, is the classic analogy for the American dream of meritocracy —that any person can achieve a better life regardless of their background— though the story illustrates the fragility of the dream. It also shows an age of prosperity just...
Simon Kuznets’ pipe dream was to have economic inequality data that rarely existed when he was writing. What are the pipe dreams of today’s development economists? How about a rigorous development economics book, or set of books, you could read in a spare hour or two? A book that provides an...
– Rethinking how much parents’ influence children’s human capital in low- and middle-income countries
The measure of human capital —the economic value of one’s skills and experience— acknowledges that investments in people’s cognitive and emotional skills, and health and nutrition, increase their productivity. Beyond economic gains, human capital is widely considered critical for many dimensions of...
The influenza pandemic of 1918 (the Spanish Flu) is by far the greatest humanitarian disaster caused by an infectious disease in modern history. It infected over a quarter of the world’s population and killed over 50 million people. The brunt of the pandemic was borne by countries in the periphery...
Blog
Originally posted by Oxford Policy Management The extractives sector, and the way it works, continues to change rapidly and its importance to many lower-income economies continues to increase. There is ever-more recognition of the need for development that is both inclusive and sustainable –...
Blog
– What can be done?
In the second part of this blog, Alan R. Roe discusses what is known about the informational failures that pose challenges for governments in projecting revenues from extractive industries. Read the first part here. Important new light has been thrown on information gaps faced by governments in...
Blog
– Information asymmetries and other disadvantages of host governments
In the first part of this blog, Alan R. Roe writes about the difficulties governments face in predicting revenues from extractive industries. Read part two here. Countries endowed with rich mineral or oil and gas resources have many competing uses for the revenues that arise from the production of...
Over the past decade significant hydrocarbon discoveries have been made across East Africa. Unsurprisingly, the respective governments countries have been excited about these discoveries, expecting revenue and local economic opportunities to follow suit. However, concerns about the macroeconomic...
Which of the following do you think is the most important need in developing countries? Free health services for all to reduce child and maternal mortality Universal and decent quality education to provide children with the skills for productive jobs Cheap petrol and electricity Unless you are...
My previous blog, which you can read here, commented on the manner in which mining companies had been able to respond to the recent decline in metals prices by significantly reducing their costs of production. In fact, this response arose partly from an exogenous event (lower energy prices), partly...
The recent publication of the 3rd edition of ICMM’s The Role of Mining in National Economies (hereafter RoMiNE3) provides us with the welcome biennial review of the global situation as it affects the large mining and metals industry. In addition to its regular update of the Mining Contribution Index...
– The last 25 years
Ever since the British Industrial Revolution, energy has been a key factor of production. Recent history has proved no exception. The pattern of primary commercial energy consumption since 1965 is presented in Figure 1. What is also clear is that, since the start of this century, energy consumption...
There has been great excitement in recent years about the huge oil and gas finds, offshore and onshore, in a number of lower- and lower-middle-income countries such as Mozambique, Tanzania, Uganda and, more recently, Kenya. The scale of the potential reserves, future production levels and government...
To read this blog, on a computer screen or mobile phone (or even paper!), a manufacturing process used plastics derived from oil, and metals mined from ores. Many of the materials are non-renewable (oil, gas, metals), some are recycled, and some are from renewable sources (perhaps the paper). The...
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