CIRDI is pleased to co-sponsor Private Sector Development in Resource-Rich Developing Countries, a presentation by Eric Werker, associate professor at the Beedie School of Business at Simon Fraser University (SFU), and CIRDI’s SFU academic lead.
April 4, 2017
12:30 pm – 2:00 pm
Liu Institute for Global Issues – Multipurpose Room
Eric researches how less developed countries can build more thriving and inclusive private sectors, particularly when they are rich in natural resources, and how international actors can play a positive role in creating successful societies. He has published widely in economics and political science journals, advised the President of Liberia on economic policy, and worked for both governmental and non-governmental organizations in analyzing and creating policy.
This presentation provides an overview of Eric’s (with collaborators Lant Pritchett from Harvard Kennedy School and Kunal Sen from the University of Manchester) framework to understand the political economy of economic growth, which has been presented to foreign aid agencies around the world and used by the U.K. Department for International Development in its private sector development and governance work, and applies it to the unique challenges of resource-rich developing countries.
Economic growth for most countries that actually need it—in order to escape from poverty—is not a linear process, but proceeds in booms and busts. Yet most frameworks for thinking about economic growth in developing countries are built on the faulty assumption that a country’s economic performance is largely stable. The talk puts forward a new framework grounded in political economy for understanding how growth episodes emerge, and when growth, once ignited, is maintained for a sustained period.
Resource-rich developing countries possess characteristics that make sustained economic growth more challenging, both from economic and political angles. Eric will discuss the policy implications for those seeking to improve outcomes in these places.
Co-sponsored by UBC’s Liu Institute for Global Issues and CIRDI.