Economic Diversification in Africa: How and Why It Matters

2021 ◽  
Author(s):  
Zainab Usman ◽  
David Landry
Keyword(s):  
Economic Diversification

Spatial Development as a Modernization Driver for the Republic of Kazakhstan

2012 ◽  
pp. 53-58
Author(s):  
S. Afontsev ◽  
N. Zubarevich
Keyword(s):  
Raw Materials ◽  
Spatial Development ◽  
Economic Diversification ◽  
Regional Economic ◽  
Analytical Scheme ◽  
Basic Goods ◽  
Challenges And Opportunities ◽  
The Republic

The questions of spatial development as a modernization driver (the Kazakhstan case) are considered in this article. The analysis of the regional economic differences makes possible to work out the development guidelines, based on the advantages combination of the basic goods specialization and the policy of transferring growth impulses from the raw materials sector to the industry and service ones. Current challenges and opportunities, which face the Kazakhstan economy, the questions of economic diversification drive up the importance of the connection between spatial development and the cluster priorities. The analytical scheme of macro-regions and diversification through the dynamic focal networks can settle up these challenges.

Internet of Things as Engine of Economic Growth in Indonesia

2019 ◽  
Vol 2 (1) ◽  
Author(s):  
Bambang Widagdo ◽  
Mochamad Rofik
Keyword(s):  
Economic Growth ◽  
Internet Of Things ◽  
Industrial Revolution ◽  
The Internet ◽  
Economic Diversification ◽  
Great Opportunity ◽  
Economic Basis ◽  
Network Quality ◽  
The Internet Of Things

The economic diversification concept gives hope for a country with rich natural resources to strengthen its economic basis. Thus industrial revolution era of 4.0 provides great opportunity to fasten the process. A study by McKensey in 2011 proved that the internet in the developing country contributes around 3.4% towards its GDP which means that the internet has become a new hope for the economy in the future. Indonesia is one of the countries that is attempting to maximize the role of the Internet of Things (IoT) for its economic growth.� The attempt has made the retail and tourism industries as the two main sectors to experience the significant effect of IoT. In the process of optimizing the IoT to support the economic growth, Indonesia faces several issues especially in the term of the internet network quality and its distribution, the inclusive access of financial access and the infrastructure

Has the Sovereign Wealth Fund of Azerbaijan (SOFAZ) Been Able to Promote Economic Diversification?

2013 ◽  
Author(s):  
Vahid Yücesoy
Keyword(s):  
Fossil Fuels ◽  
Dutch Disease ◽  
Future Generations ◽  
Direct Control ◽  
Economic Diversification ◽  
Sovereign Wealth Funds ◽  
Sovereign Wealth Fund ◽  
Rentier States ◽  
Oil Revenues ◽  
Rich Countries

Oil-rich countries have oftentimes been confronted with the challenge of diversifying their economies away from oil dependence given the exhaustible nature of these fossil fuels. Investing in sovereign wealth funds has been one of the most ubiquitous ways of preparing for the post-oil period. Investing in sovereign wealth funds rather than directly injecting the oil revenues in the economy not only precludes the outbreak of the Dutch Disease (which is known for giving rise to an exchange rate appreciation, crowding out non-oil industries and keeping the economy reliant on oil), but it also saves for future generations. Yet, in the case of Azerbaijan, the Sovereign Wealth Fund of Azerbaijan (SOFAZ), founded in 1999, has only increased this reliance on oil. Using the rentier states theoretical framework, this paper will argue that the direct control over SOFAZ exercised by the president and the lack of consultation with the NGOs have made corruption easier, making the task of economic diversification more difficult. This has been possible because through corruption the president has often resorted to oil money to buy peace rather than invest it in economic diversification. As a result, since the foundation of SOFAZ, the country is more reliant, not less, on oil.   Full text available at: https://doi.org/10.22215/rera.v8i1.223  

Cultural Tourism Routes as Incubators for Innovation and Economic Diversification: A Potential Analysis in the Framework of the New Silk Road Initiative in Azerbaijan

2020 ◽  
Vol 64 (4) ◽  
pp. 211-232 ◽  
Author(s):  
Arne Schuhbert ◽  
Hannes Thees ◽  
Valentin Herbold ◽  
Johanna Weinreiter ◽  
Markus Kantsperger
Keyword(s):  
Quantitative Methods ◽  
Methodological Approach ◽  
Silk Road ◽  
Industrialized Countries ◽  
Economic Diversification ◽  
Qualitative And Quantitative Methods ◽  
Widespread Phenomenon ◽  
Southern Caucasus ◽  
Ancient Silk Road ◽  
Cultural Routes

AbstractCultural routes are today a widespread phenomenon throughout the Industrialized Countries (IC) and have become more and more prominent as a tool for tourism development in recent years (Flognfeldt, 2005:37; Meyer, 2004:5). For countries in the Southern Caucasus, who profit from their bridging position between Europe and Asia, the planned revival of the Ancient Silk Road (ASR) in form of the New Silk Road (NSR) offers substantial potentials for economic diversification by means of tourism as a catalyzing industry. On the case of Azerbaijan, this study analyzes the potential to trigger regional economic diversification within the existing national destination-system in a framework of route development. To this end, the methodological approach builds upon a mix of qualitative and quantitative methods to diagnose the current degree of cluster maturity in the system, following the question of how Azerbaijan as a system of regional destination can access the transnational route system of the NSR.

Economic complexity and embedding of regional economies’ structures

2021 ◽  
Vol 57 (3) ◽  
pp. 67
Author(s):  
Mikhail Afanasiev
Keyword(s):  
Economic Activity ◽  
Traditional Approach ◽  
Expert Assessment ◽  
Potential Contribution ◽  
Regional Economies ◽  
Economic Diversification ◽  
Economic Complexity ◽  
The Past ◽  
The Matrix ◽  
Strong Sector

 The research focuses on the development of localized specialization and economic diversification theories. Our task is forecasting of the emergence of new strong sectors in the region. On the basis of probabilistic and statistical modeling the model which allows estimating the probability of appearing a new strong sector in the region taking into account characteristics of economic structure is constructed. The possibility of building such a model is based on the assumption that the emergence and development of sectors is largely determined by the evolution of past economic activity. The model uses the indicators of embedding structures of the strong sectors in the regional economies is introduced by the authors. These indicators are based on the probabilistic interpretation and properties of the elements of the matrix, by which economic complexity is estimated following the traditional approach. The probability of originating a strong sector in the structure for each region is estimated. Based on sorting the sectors according to the value of these probabilities and assessments of their potential contribution to socio-economic development expert assessment of the feasibility of developing a new strong sector in the region can be made. The results show that sectors’ introduction and generation in the regional economy is largely due to the evolution of the past economic activity.    

Economic Diversification, Homogeneity of Interests, and the Impartiality of Government

2021 ◽  
pp. 377-398
Author(s):  
Petrus Olander
Keyword(s):  
Political Theory ◽  
Institutional Reform ◽  
Scholarly Work ◽  
Economic Activities ◽  
Economic Diversification ◽  
Political Processes ◽  
Government Institutions ◽  
Competing Interests ◽  
Sectoral Structure ◽  
Government Power

Can economic diversification constrain elites from shaping government institutions to their own advantage? This chapter reviews scholarly work that suggests it can. Elites frequently use government institutions to cement their position and enrich themselves at the expense of others, but to overcome opposition to their own advancement they must form coalitions. The ability to form coalitions is conditioned by the compatibility of underlying interests; the more diverse the economy, the less cohesive the underlying interests are, making it harder for the elites to form collusive coalitions. This chapter outlines political theory and recent research on the role played by diverse and competing interests in shaping the exercise of government power, democratization, and institutional reform. Considering the sectoral structure of the economy can help us better understand ongoing economic and political processes such as reconcentration of economic activities, the position of transient labor, and state-led efforts for economic diversification.

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