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What effect does the presence of natural resources have on economic development?

What effect does the presence of natural resources have on economic development?. Jacob Moy. Defining Abundance/Scarcity. SXP (Sachs and Warner 1997), SXP80 Affirming our case studies: Oil production Primary exports. The Findings. Real GDP Growth Rates (USD-1990 Base).

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What effect does the presence of natural resources have on economic development?

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  1. What effect does the presence of natural resources have on economic development? Jacob Moy

  2. Defining Abundance/Scarcity • SXP (Sachs and Warner 1997), SXP80 • Affirming our case studies: • Oil production • Primary exports

  3. The Findings Real GDP Growth Rates (USD-1990 Base) • Affirms “Dutch Disease Theory” • Resource abundance is an impediment to economic growth • What about Norway? Data: UNCTAD Handbook of Statistics 2008

  4. Elaborations: Real GDP Growth Rates (USD-1990 Base Year) Data: UNCTAD Handbook of Statistics 2008

  5. Summing Up • Resource abundance impedes economic development • Poor diversification • Rent-Seeking Behavior • Short Sightedness • Other Indicators of Poor Development?

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