Eric De Muynck
Bienvenue à la Charte des Ressources Naturelles. Resource curse. The resource curse, also known as the paradox of plenty, refers to the paradox that countries and regions with an abundance of natural resources, specifically point-source non-renewable resources like minerals and fuels, tend to have less economic growth and worse development outcomes than countries with fewer natural resources. This is hypothesized to happen for many different reasons, including a decline in the competitiveness of other economic sectors (caused by appreciation of the real exchange rate as resource revenues enter an economy, a phenomenon known as Dutch disease), volatility of revenues from the natural resource sector due to exposure to global commodity market swings, government mismanagement of resources, or weak, ineffectual, unstable or corrupt institutions (possibly due to the easily diverted actual or anticipated revenue stream from extractive activities).
Resource curse thesis[edit] Negative effects and causes[edit] Tug of war between people and government[edit] YouTube - Paul Collier: The Bottom Billion and the Resource Trap. Equatorial Guinea's durable president: Oil makes friends of us a. Kuwait Of Africa? - 60 Minutes. With gas prices hitting record levels this summer, and violence in the Middle East unabated, America has been scouring the globe searching for new sources of oil. And one could be Equatorial Guinea, a tiny nation that's been dubbed the Kuwait of Africa because it has so few people and so much oil. It used to be called the armpit of Africa because it was so desperately poor. But since the discovery of oil 10 years ago, that has started to change. In fact, as Correspondent Bob Simon reported last fall, African countries like Equatorial Guinea will provide as much as 25 percent of America's oil in the next decade. And giants like Exxon-Mobile are pumping out more of it all the time.
The oil workers come in droves, and there are so many that there's now a weekly flight direct from Texas to Equatorial Guinea called the Houston Express. The country has the third largest reserves in Africa, so the men know what they're here for, even if they're not quite sure where they are. Copyright 2003 CBS. Dutch disease. This article is about the economic phenomenon. For the disease affecting elm trees, see Dutch elm disease. In economics, the Dutch disease is the apparent relationship between the increase in the economic development of natural resources and a decline in the manufacturing sector (or agriculture). The mechanism is that an increase in revenues from natural resources (or inflows of foreign aid) will make a given nation's currency stronger compared to that of other nations (manifest in an exchange rate), resulting in the nation's other exports becoming more expensive for other countries to buy, and imports becoming cheaper, making the manufacturing sector less competitive.
While it most often refers to natural resource discovery, it can also refer to "any development that results in a large inflow of foreign currency, including a sharp surge in natural resource prices, foreign assistance, and foreign direct investment".[1] Model[edit] A resource boom affects this economy in two ways.
Extractive Industries Transparency Initiative. Chatham House - Publications - Reports and Papers - View Paper. IDS Bookshop - Item details. Bikjysp340.mp3 (Objet audio/mpeg) Natural Resources and Population Podcast by Nathan F. Sayre.