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| Tekijä: | Auty, R. M. |
| Otsikko: | Oil-exporters' disappointing diversification into resource-based industry : the external causes. |
| Lehti: | Energy Policy
1988 : JUN, VOL. 16:3, p. 230-242 |
| Asiasana: | OIL INDUSTRY EXPORTS FINANCING |
| Kieli: | eng |
| Tiivistelmä: | Resource-based industry, which is the processing of minerals such as iron ore into steel, bauxite into aluminium and hydrocarbons into petrochemicals, proved a popular use of the oil-exporting countries' windfalls generated by the oil shocks. The resource-based industry feasibility studies projected sizeable resource rents which encouraged the oil-exporters to discount risk and launch ambitious strategies. However, the initial contribution of resource based industry to the economic growth and structural change of oil-exporting countries has been very disappointing, shrinking and even eliminating potential rents. The debt-burdened new projects were marginalized. |
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