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The Paradox of Resource Wealth: Oil-Dependent Nations Struggle Compared to Non-Resource Economies

On June 20, 2012, a report from Toronto highlights an intriguing economic phenomenon: many resource-rich nations—particularly those with abundant oil and minerals—fail to achieve rapid economic growth. This paradox is exemplified by various oil-producing countries in Africa, where despite vast natural resources, economic progress remains stunted. The discussion delves into the reasons behind this discrepancy, exploring factors such as governance, corruption, and reliance on volatile commodity markets.

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The Paradox of Resource Wealth: Oil-Dependent Nations Struggle Compared to Non-Resource Economies

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