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The Presence of Natural Resources and Economic Development

The Presence of Natural Resources and Economic Development. Jacob Moy. Existing Arguments. “Dutch Disease” Theory Impact on: Education (Glyfason 2001) Macroeconomic Reforms (World Bank 2009) Civil War (Fearon 2005).

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The Presence of Natural Resources and Economic Development

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  1. The Presence of Natural Resources and Economic Development Jacob Moy

  2. Existing Arguments • “Dutch Disease” Theory • Impact on: • Education (Glyfason 2001) • Macroeconomic Reforms (World Bank 2009) • Civil War (Fearon 2005) “We are in part to blame, but this is the curse of being born with a copper spoon in our mouths.” -Kenneth Kaunda, President of Zambia

  3. Defining Resource Abundance & Scarcity • SXP & SXP 80 • “share of exports of primary products in GNP” (Sachs & Warner 1997) • Other Methods: • Per capita cropland (Auty) • Oil production • Primary Exports

  4. The Findings Real GDP Growth Rates (USD-1990 Base) • Affirms “Dutch Disease Theory” • Resource scarcity more conducive to growth than abundance • Norway?..... Data: UNCTAD Handbook of Statistics 2008

  5. Data: UNCTAD Handbook of Statistics 2008

  6. Elaborations • Annual Compound Growth Rate of Per Capita GDP (1996-2006): • World Average= 2.12% • Bangladesh= 3.14% • Nigeria= 1.51% • Norway= 2.57% • UN Human Development Index (HDI) 2009: • Norway 1st, Bangladesh 146th, Nigeria 158th • Bangladesh: notable positive HDI growth since ‘05 • Nigeria: static HDI growth

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