The thesis critically examines major theories within the debate concerning authoritarianism, resource wealth and economic development in order to explain developments in Libya’s economy in the past...Show moreThe thesis critically examines major theories within the debate concerning authoritarianism, resource wealth and economic development in order to explain developments in Libya’s economy in the past 50 years. The literature review presents some perspectives regarding authoritarianism as a factor of economic stagnation and as a requirement for initial stages of economic development. With regard to resource wealth, the paper mainly relies on the resource curse theory and the staple thesis, which conceive resources respectively as a curse and a blessing. The focus of this paper is analysing how these two factors, namely authoritarianism and resource wealth, have remarkable effects on economic development through their debilitative effects on institutions, while arguing that effective and accountable institutions are fundamental in fostering economic development due to their contribution in setting a legal framework marked by a good rule of law, anti-corruption policies and regulations. The institutional question is therefore central to this paper, which presents the developmental prospects of the Libyan economy as being undermined by the country’s statelessness, perpetrated by weak institutions and lack of capacity. The conclusion is that the underdevelopment of Libya’s institutions, fostered by authoritarian rule and resource wealth, was the driving force in undermining Libya’s economic development.Show less
The scope of this research is to figure out why, despite all the “infrastructure for resources” kind of investments undertaken by the Chinese, Sub-Saharan countries have not yet solved their...Show moreThe scope of this research is to figure out why, despite all the “infrastructure for resources” kind of investments undertaken by the Chinese, Sub-Saharan countries have not yet solved their widespread poverty issue. More specifically, the focus will be on Angola; a country that experienced extraordinary GDP growth in the first years of the economic partnership with China, yet poverty among the population remains rampant. Therefore, in order to discover what might explain a lack of economic development in a particular country that receives a great amount of infrastructure-related investments from China, I will firstly list four aspects that have been claimed to be destructive for the sustainable economic development of a country. These are: the non-interference approach adopted by China, the Chinese companies’ hiring policy, the lack of good governance and the disadvantage of the resource curse, by which many African countries are affected. After that, I will analyse these aspects in the more specific case of Angola in order to investigate which obstacles are inhibiting its economic development in actuality. Finally, I will argue that if the Angolan government solves its governance issues and adopts adequate measures to change the structure of the national economy, then, China will presumably be able to provide good opportunities to further stimulate economic development. However, if nothing is changed at the governance level, it is very unlikely that an economic transformation will ever take place.Show less
Since China’s Go Global Policy became operational in 2002, it started many new relations with resource-rich developing countries. This paper has as a goal to build on literature about Chinese...Show moreSince China’s Go Global Policy became operational in 2002, it started many new relations with resource-rich developing countries. This paper has as a goal to build on literature about Chinese foreign policy towards resource-rich developing countries, and whether it may be defined as economic imperialist. The bilateral relationship with Peru is taken as a case study, as the country is endowed with mainly copper. Economic figures and statistics reveal that Peru has economically benefited enormously from increased trade and FDI, in terms of GDP growth and poverty reduction. However, the benefits for Peru are stagnating because the basis for industrialization is not present, and does not get developed through the relationship with China. Increase of economic ties by developing countries with China can be beneficial, but do not improve the long-term prospects for reaching the core in the World-System.Show less
