Abstract
1The article presents the results of the study, which purpose was to test the hypotheses reflecting the interaction of the development of the commodity sector with the socio-economic dynamics. The regional comparative studies and concepts reflecting different views on the relationship of the commodity sector and national development were the methodological basis. The 15 former Soviet republics, united among themselves in four regions: countries with rich natural resources; the country is not rich with natural resources; new EU countries and Russia — were the object of the study. In the context of the selected groups, the key macroeconomic indicators, human and institutional developments were analyzed in comparison. In the conclusion, the authors believe that today, countries having a rich natural resource potential, have the problem of the choice of the natural resources rational using model. While the country is in a state of search, it is very difficult to say clearly about the influence of the raw materials sector on economic development.
Highlights
The importance and relevance of comparative studies does not decrease over time, since it is the comparative method that is recognized as one of the most effective research techniques allowing to analyze a wide and diverse range of data, and to study phenomena of systemic nature, for example, for evaluation of commodities sector integration into national economies
The USSR collapse in the last month of 1991 and the emerging of 15 independent states led in most cases to the fact that these countries were automatically added to the common list of existing states and they are considered as equivalent to other states for the purposes of today’s cross-country comparisons
The relationship of national economy sustainable socio-economic development to the natural resources availability in the country continues to be the subject of heated debates in recent decades
Summary
The relationship of national economy sustainable socio-economic development to the natural resources availability in the country continues to be the subject of heated debates in recent decades. The second group emerged in 2000s, when a number of authors, while remaining within the concept of economic channels, initiate studies to assess the negative impact of commodities prices volatility on growth and development [21, 30, 43] Generally during this period opinions regarding the «resource curse» existence remained unanimous. Considering examples of many countries, there are grounds to assume that a non-linear relationship does exist, i.e. below a certain threshold of institutional development the resource abundance will degrade the quality of institutions, whereas above that level it will not have a significant effect» [15] The authors support their findings with calculations results obtained by different researchers within given econometric models. The commodities sector is influence is assessed in terms of absolute, relative and dynamic indicators, as well as by means of ratings com-
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