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Drawing upon recent progress in development economics and political science, the book provides fresh analysis of the Caucasus and Central Asia (CCA) countries transition to a market economy by tracing the impact of natural resource endowment. The book examines the synergies between energy-rich and energy-poor states and highlights the practical consequences of both well-managed and poorly-managed deployment of energy. Featuring contributions from prominent specialists on resource-driven economies, the book argues that unless CCA elites change the way in which they deploy natural resource, revenues regional development will fall short of its potential with possible disastrous consequences. The contributors apply the experience of the developing market economies to demonstrate that the region still holds considerable potential to become an important, stable supplier of raw materials and a source of industrial demand to the global economy. However, the CCA is equally likely to become a threat to the global economy as a consequence of the misuse of energy revenues to promote the interests of predatory political elites.

Cover -- Series Editors -- Title Page -- Copyright Page -- Table of Contents -- List of Figures -- List of Tables -- Contributors -- Foreword -- I: Introduction -- 1: An Overview of Approaches to Sustainable Development -- II: Approaches to Sustainable Development -- 2: Accounting for Sustainability -- 3: Sustainable Management of Water Resources: An Economic View -- 4: Labour Force Analysis as a Means to Understand the Livelihood Dimension of Sustainability -- 5: Sustainable Utilization: A Grand Illusion? -- III: Rural Applications of Sustainability -- 6: Population and Food in South Asia: Recent Trends and Prospects -- 7: Land, Livestock and Livelihoods: Towards Sustainable Pastoral Development in Marsabit District, Kenya -- 8: Annapurna Conservation Area Project: In Pursuit of Sustainable Development? -- 9: Global Processes and The Politics of Sustainable Development in Colombia and Costa Rica -- IV: Coping with Industrialization and Pollution -- 10: Sustaining Mineral-Driven Development: Chile and Jamaica -- 11: Pollution Patterns in the Industrialization Process -- 12: Industrialization in Vietnam: Social Change and Environment in Transitional Developing Countries -- 13: The International Dimensions of Sustainable Development: Rio Reconsidered -- 14: Sustainable Development: Taking Stock -- Name Index -- Subject Index.

This book provides an up-to-date interdisciplinary critique of the new economic orthodoxy as represented by the Washington Consensus. The originator of the term, John Williamson, updates his original thesis which is then discussed by an interdisciplinary group of scholars that includes economists, environmentalists, political scientists, institutionalists, sociologists and a philosopher. The papers span a range of viewpoints which includes sympathetic modifications to the consensus as well as strong rejections of it.