Events Calendar

Jan
8
Tue
2013
Diversification of an Energy-Producing Economy Agricultural Policy in Kazakhstan @ Conference Room 505
Jan 8 @ 4:00 PM – 5:30 PM
Diversification of an Energy-Producing Economy Agricultural Policy in Kazakhstan @ Conference Room 505

with Richard Pomfret, Professor of Economics, University of Adelaide, Australia

Kazakhstan has used energy revenues to save for the future, invest in human capital, and diversify the structure of production with the goal of becoming one of the “fifty most competitive, dynamically developing countries in the world”. Agriculture has been a key part of the diversification strategy ever since the government committed a billion dollars to the 2003-5 Agriculture and Food Program. Since then agricultural policy has passed through several phases, mirroring evolving attitudes in Kazakhstan towards the role of government and of the market in economic development. This seminar analyses the content and consequences of agricultural policy, and agriculture’s role in Kazakhstan’s economic transformation.

Richard Pomfret, Professor of Economics at the University of Adelaide, Australia, and adviser to the Australian government and to international organizations such as the World Bank, Asian Development Bank, United Nations Development Programme, and the Organisation for Economic Co-operation and Development.

Apr
2
Wed
2014
Diversified Development: Making the Most of Natural Resources in Eurasia
Apr 2 @ 4:00 PM – 5:30 PM
Diversified Development: Making the Most of Natural Resources in Eurasia
with, Ivailo Izvorski, The World Bank
Economic development discussions in Eurasia often become debates about diversification. For aregion that is resource-rich, this is to be expected. Eurasian economies have in many ways become less diversified during the last two decades. At the same time, people are much better off today thanthey were in the 1990s: poverty has been cut in half, incomes have increased fivefold; and educationand health have improved. Eurasia’s economies have also become more integrated with the globaleconomy and more productive at home. And the region has also become better at efficientlyconverting natural wealth into productive capital: since the mid-2000s it has built more in assets thanthe mineral wealth it has used up.  But most countries in Eurasia have yet to learn the main lessonfrom the experience of resource rich countries in other parts of the world. In brief, what distinguishessuccess from failure are the institutions used to manage economic volatility, ensure high qualityeducation, and provide a competition regime that levels the playing field for enterprise. Developmentsuccess in resource-rich economies comes from more diversified asset portfolios–a better balancebetween natural resources, built capital, and economic institutions. “DiversifiedDevelopment” elaborates on these lessons and provides practical recommendations for twelve countries in the former Soviet Union.