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Political Economy of Natural Resources and Development : From Neoliberalism to Resource Nationalism
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The nationalization of foreign firms has once again returned to the mainstream economic policy agenda in Latin America and elsewhere in the developing world, particularly in Sub-Saharan Africa and East Asia – especially in the extractive sector. This trend, often described as resource nationalism, has developed into a state strategy for economic development, as well as a new but very significant political risk for extractive enterprises.
However, these developments, which constitute the most dramatic change in development policy in Latin America since the advent of neoliberalism, have so far received little attention from either academic or policy-oriented publications. This book explores the reasons behind these policies, and their effects on the principal actors in economic development: states and firms.