The Staple Trap in High-Rent Trinidad and Tobago

R. Auty, H. I. Furlonge
{"title":"The Staple Trap in High-Rent Trinidad and Tobago","authors":"R. Auty, H. I. Furlonge","doi":"10.1093/OSO/9780198828860.003.0004","DOIUrl":null,"url":null,"abstract":"The development trajectory of high-rent Trinidad and Tobago since the 1960s provides an example of the staple trap model. An extra-parliamentary disturbance combined with large oil windfalls through 1974–78 and 1979–81 to deflect an initially cautious developmental government into executing an overambitious strategy of gas-based industrialization. The economy experienced a growth collapse when oil prices faltered, which was protracted and sharply reduced average incomes. Eventual recovery relied on monetizing natural gas, however, which proved a minimum diversification away from hydrocarbon dependence, testifying to the inertia of rent-seeking once established. Governments need to build a political consensus to deploy rent for efficient economic growth. Chapter 5 shows how Mauritius achieved this.","PeriodicalId":111637,"journal":{"name":"The Rent Curse","volume":"117 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2018-12-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"The Rent Curse","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1093/OSO/9780198828860.003.0004","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 0

Abstract

The development trajectory of high-rent Trinidad and Tobago since the 1960s provides an example of the staple trap model. An extra-parliamentary disturbance combined with large oil windfalls through 1974–78 and 1979–81 to deflect an initially cautious developmental government into executing an overambitious strategy of gas-based industrialization. The economy experienced a growth collapse when oil prices faltered, which was protracted and sharply reduced average incomes. Eventual recovery relied on monetizing natural gas, however, which proved a minimum diversification away from hydrocarbon dependence, testifying to the inertia of rent-seeking once established. Governments need to build a political consensus to deploy rent for efficient economic growth. Chapter 5 shows how Mauritius achieved this.
查看原文
分享 分享
微信好友 朋友圈 QQ好友 复制链接
本刊更多论文
特立尼达和多巴哥的高租金陷阱
特立尼达和多巴哥自20世纪60年代以来的高租金发展轨迹为“短纤陷阱”模式提供了一个例子。1974年至1978年和1979年至1981年期间,议会外的骚乱加上石油带来的巨额意外之财,使最初谨慎的发展政府转向实施雄心勃勃的以天然气为基础的工业化战略。当油价下跌时,经济经历了增长崩溃,这是长期的,并大幅减少了平均收入。然而,最终的恢复依赖于天然气的货币化,这证明了对碳氢化合物依赖的最小多样化,证明了一旦建立寻租的惯性。各国政府需要建立政治共识,为有效的经济增长部署租金。第5章展示了毛里求斯是如何做到这一点的。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
求助全文
约1分钟内获得全文 去求助
来源期刊
自引率
0.00%
发文量
0
期刊最新文献
Low-Rent Mauritius as a Developmental Counterfactual for High-Rent Trinidad and Tobago Natural Resources, Country Size, and Development Prospective Growth Impacts of Export Services Aims, Approach, and Structure of the Study The Staple Trap in High-Rent Trinidad and Tobago
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
0
微信
客服QQ
Book学术公众号 扫码关注我们
反馈
×
意见反馈
请填写您的意见或建议
请填写您的手机或邮箱
已复制链接
已复制链接
快去分享给好友吧!
我知道了
×
扫码分享
扫码分享
Book学术官方微信
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术
文献互助 智能选刊 最新文献 互助须知 联系我们:info@booksci.cn
Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。
Copyright © 2023 Book学术 All rights reserved.
ghs 京公网安备 11010802042870号 京ICP备2023020795号-1