Natural Resources: Curse or Blessing?
Abstract
Are natural resources a “curse” or a “blessing”? The empirical evidence suggests either outcome is possible. The paper surveys a variety of hypotheses and supporting evidence for why some countries benefit and others lose from the presence of natural resources. These include that a resource bonanza induces appreciation of the real exchange rate, deindustrialization and bad growth prospects, and that these adverse effects are more severe in...
Paper Details
Title
Natural Resources: Curse or Blessing?
Published Date
Jul 15, 2010
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