Natural Resources
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For almost as long as economics has been a profession, the role of natural resources in the promotion of economic growth has been among the core issues of development theory. Some newer theories suggest that natural riches produce institutional weaknesses as various social groups attempt to capture the economic rents derived from the exploitation of natural resources. Since the 1960s, some analysts have argued that resource-rich developing countries have grown more slowly than other developing countries. Nevertheless, we find ourselves in a time when conventional wisdom again postulates that natural resources are indeed riches. >…mehr

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For almost as long as economics has been a profession, the role of natural resources in the promotion of economic growth has been among the core issues of development theory. Some newer theories suggest that natural riches produce institutional weaknesses as various social groups attempt to capture the economic rents derived from the exploitation of natural resources. Since the 1960s, some analysts have argued that resource-rich developing countries have grown more slowly than other developing countries. Nevertheless, we find ourselves in a time when conventional wisdom again postulates that natural resources are indeed riches. >
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