Testing The Pearl Hypothesis: Natural resources and trust

Do natural resources reduce social trust? This paper reviews the literature on natural resources and on trust. The existing theoretical and empirical literature suggests that natural resources can reduce trust through several indirect mechanisms. Notably, studies show that natural resources lead to institutional degradation, corruption, inequality, and civil war, all of which have been associated with reduced trust. In addition, game theoretical work on windfall gains suggests that there may be direct effect of natural resources on trust. This paper tests empirically whether there is a direct effect of natural resources on trust (The Pearl Hypothesis), using cross-country data. The results indicate that no such direct effect exists, but we find a significant effect on trust of intermediate variables affected by natural resources, such as institutions, corruption, inequality and/or civil war. Importantly, the relationship between corruption and trust turns out to be non-linear, indicating that the effect of natural resources on trust depends on the initial corruption level of a country. In highly corrupt societies, institutional improvements that reduce corruption may also undermine trust, which poses difficult challenges for anti-corruption policy.     

A theoretical overview of the relationship between the resource curse and genuine savings as an indicator for “weak” sustainability

This paper shows the strong relation between the factors that lead to the resource curse (RC) and factors that lead to a decline of genuine savings (GS). There is substantial empirical evidence that economies that rely predominantly on their natural resources are also characterized by slower economic growth. This so‐called RC is commonly traced back to the fact that natural resources' generate rents that are independent of a country's economic performance, which can lead to suboptimal reinvestments of this consumed natural capital. We argue that the factors responsible for the RC also have a negative effect on GS, a concept that measures “weak” sustainable development by considering reinvestment of natural capital rents in physical and human capital. We discuss whether the RC hampers possibilities for resource abundant countries to obtain sufficiently high rates of GS, and find indeed many reasons why resource‐dependent countries have problems achieving positive GS rates. We survey both areas of research, emphasizing the influence of the exogenous and endogenous determinants of economic growth, which are usually used to theoretically and empirically explain the RC on the three different forms of capital considered by GS. We specify why most countries suffering from the RC have negative GS rates and explain in detail where the linkages are. This overview could help with potential advancements in the explanation of GS through the inclusion of RC effects.     

工业污染治理投资完成状况分析研究——以我国沿海省市为例

运用多元统计中的主成分分析法和系统聚类法对我国东部地区工业污染的治理投资完成情况进行了分析。根据主成分分析结果,对选取的11个省市进行分类,并在此基础上提出加强各区域环境污染治理的几点建议。     

企业安全投资背后的利益博弈探讨

利用职业安全卫生费用模型结合博弈论原理,对企业安全投资背后的利益冲突与协调问题进行了浅析.研究表明:企业凭借资本优势在与政府和劳动者的利益博弈中为了寻求经济利益最大化减少安全投资,使企业安全度大大降低,导致事故频发是政府、企业和劳动者之间利益博弈的结果.此外,劳动者的合法权益得不到保护,造成其在利益博弈中处于弱势地位是造成安全生产现状的重要原因之一.     

污水处理厂投资全过程成本控制

本文综合论述了在水业市场化条件下，水务投资公司进行污水处理厂投资、建设和运营时，在投资决策前期阶段、设计阶段、建设阶段以及运营阶段等各水务价值链重要环节的成本控制方法，为水务投资公司在污水厂投资全过程的成本控制提供了参考。     

四川省环境污染经济损失与污染治理投资比例探讨

环境保护同经济建设和社会发展相协调,是我国环境保护的基本原则。本文从环境保护与经济发展的相互关系出发,比较实际地估计了我省各种污染排放物及造成的经济损失,探讨了环保治理资金社会投入的比例问题。     

AN APPLICATION OF INVESTMENT TIMING ANALYSIS: DUAL WATER SYSTEMS1

ABSTRACT: A general methodology to study the economics of dual water systems (defined here as a separate distribution system for untreated low quality local surface Water for outdoor municipal water supply) is summarized and the application of the method to a rapidly growing city is presented. In the first step, a cost-benefit criterion for evaluating dual systems is developed. The criterion is then extended to a dynamic case where the population to be served increases with time and where the dual system is allowed to expand. The optimal investment time to introduce the dual water supply project is obtained by maximizing social welfare. The model is applied to the city of West Jordan, Utah, where a dual system is currently being proposed. Model results indicate that for the city as a whole dual supply is not economically feasible. However, when the model is applied to a part of the city, it is found feasible and the optimal time to initiate the project would be in the year 1989.     

Local economic development — the changing public/private sector relationship

The paper examines changing approaches to local economic development in the period since 1974. Initially, it proposes an ‘orthodox’ model of local economic development policies which emphasised the provision of a better industrial fabric, and of financial assistance to small, inner city firms. It suggests three recent directions of change in emphasis from this orthodox model: help in the creation of new entrepreneurs; replacement of public sector by private sector action; local authority shareholding in local firms by use of Enterprise Boards. Each approach makes different assumptions about the public/private sector relationship, the last two involve a more explicitly ideological stance on this issue.     

Imperatives for attracting investment and technology in the Indian mining sector

In India, the mineral resource inventory and the production of a large number of important minerals have registered significant increases during the last few decades. Yet the country continues to be a net importer of many high value and scarce minerals and metals, like gold, diamond, and several base metals. Exploration and development of the resources of these minerals are technology- and capital-intensive. To bring technology and capital through foreign direct investment (FDI) into the Indian mineral sector, it is imperative to lay stress on: accurate resource estimation and categorization, as well as realistic projection of the true values; rationalization of legislative measures based on R&D studies and reorganization of the implementation machinery; conducive tax structure; notification of acts and rules applicable to offshore mineral resources; time-frames for granting licences and leases; encouragement to labor productivity by rationalizing labor laws; reforms in the monetary system to increase market competitiveness of Indian minerals; and judicial reforms. FDI in the Indian mineral sector is important to firm up the knowledge-base of mineral resources and their optimum exploitation.     

Fostering sustainable small-scale investments: lessons from experience and ideas for intervention and innovation

This article presents lessons from experience pertinent to implementing small-scale natural resource and related investment projects in developing countries. It outlines ideas for intervention and innovation to foster such investments. Particular emphasis is placed on private-sector participation in these investments. Following a brief presentation of the economic development and other arguments that support intervention and innovation in support of such small-scale natural resource investments, the article discusses many of the lessons learned from experience. These lessons reinforce those touched upon in the investment-specific discussions in the previous articles. The experience and associated lessons that are examined include experiences in both developing and developed countries and encompass not just lessons from natural resource investments, but also small-scale investments in other sectors. Financing and other innovations which facilitate meeting the challenges are drawn from relevant experience where barriers to investment have been surmounted. Options for programme and project interventions to increase market penetration of small-scale investments and achieve the associated development linkages and synergies are suggested. These suggestions are aimed especially at governments and bilateral and multilateral development finance and development assistance entities. It is those players who might support such interventions in collaboration with local financial institutions and other market players.