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It is widely believed that natural mineral resources are desirable. However there is growing evidence that this may not always be the case. Indeed, it seems that natural assets can distort the economy to such a degree that the benefit actually becomes a curse. In Sustaining Development in Mineral Economies, Richard Auty highlights these drawbacks and the devastating effect they can have on developing economies. With reference to six ore-exporters (viz. Peru, Bolivia, Chile, Jamaica, Zambia and Papua New Guinea) he outlines how things can go badly wrong. He particularly stresses the need to avoid 'Dutch Disease' whereby competitiveness is drained out of the agriculture and manufacturing sectors so that in the long term growth falters.
This book investigates the paradox of the 'resource curse,' questioning why natural mineral wealth often hinders rather than fosters long-term economic development in developing nations. Richard M. Auty, a prominent scholar in development economics, utilizes comparative analysis to examine how resource-dependent economies frequently suffer from structural distortions. He argues that reliance on mineral exports can undermine broader economic health, necessitating strategic policy interventions to avoid stagnation.
What You Will Find
Experts recognize this work as a foundational text for understanding the economic challenges inherent in resource-dependent development. Readers frequently note the academic rigor and the clarity with which the author explains complex macroeconomic distortions.
Page Count:
0
Publication Date:
1993-01-01
Publisher:
Taylor & Francis, Inc.
ISBN-10:
0203422597
ISBN-13:
9780203422595
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