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  • Print publication year: 2019
  • Online publication date: August 2019

3 - Does Natural Resource Dependence Hinder Economic Development?

from Part I - Overview

Summary

The introductory chapter highlights the structural dependence of many low- and middle-income economies on natural resource exploitation. Chapter 2 reviews many theories that, on the whole, suggest that natural resource exploitation has been the main feature of economic development and trade in the developing world historically. These theories generally suggest that the exploitation of the natural resources of a country is, at the very least, an important first step in its economic development.