Targeting Infrastructure Projects, Innovative Technologies and Financing Options to Achieve Sustainable Economic Growth in Resource-Based Economies

Susan Smith Nash; Gary Stading; Larry R. Davis

Susan Smith Nash American Association of Petroleum Geologists (AAPG) and Texas A&M University Texarkana, USA.
Gary Stading Texas A & M University Texarkana, USA.
Larry R. Davis Texas A & M University Texarkana, USA.

Keywords: Economic development, Dutch disease, infrastructure investments, economic diversification, infrastructure financing, mono-economies, neo-mercantilism, resource-dependent economies, development loans, world bank, one belt one road, belt and road initiative (BRI), economic growth, supply chain, vision 2030

Abstract

This chapter evaluates different approaches and potential solutions for the seemingly intractable stagnation or decline of a country or region. It focuses on economic development in a resource-based economy that may have structural problems due to a lack of diversification. Infrastructure, strategic debt, and innovation are evaluated, with a goal of developing a balanced approach that strategically leverages existing infrastructure for a diversified economy and sustainable growth for resource-based economies. It includes expanding financing opportunities in these countries with a combination of infrastructure policies and energy technologies and capturing the opportunities using supply chain technologies. The goals are to avoid both debt traps and Dutch Disease by leveraging existing infrastructure within a plan that incorporates supply chain management the prudent use of available financing and strategic partnership, such as Chinas Belt and Road Initiative and Saudi Arabias Vision 2030. Finally, the chapter contains an analysis of Argentinas economic problems explains how a current plan to build infrastructure and to develop innovative technology could provide a foundation for renewed economic growth and human capital development.