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Africa, blessed with many minerals and other natural resources, has often fallen prey to the resource curse. This disease comes in two forms: revenues from natural resources push up a country's currency exchange rate and depress other sectors,
Accounting & Finance at University Campus Suffolk The global crash of 2008 kicked off a furious debate in the UK about whether or not the City of London is a real asset to the economy. There was huge anger about the multi-billion bail-out of failed
Africa has 10 per cent of the world's known reserves of oil, 40 per cent of its gold, and 80 to 90 per cent of the chromium and the platinum metal group, to list only a few. But a number of commentators still refer to this wealth of natural resources
Real estate signs sit outside a condominium building on Lake Shore Blvd...For The Globe and Mail Market View Investigation infographic Are our resource industries mere relics, distracting us from more profitable, even civilized, pursuits? With
But a number of commentators still refer to this wealth of natural resources and minerals as "Africa's curse." They associate the many wars, poverty and untold suffering of ordinary Africans to this abundance. It is true that the abundance of natural
Novel recommendations for ensuring that Uganda's 'Black Gold' cash benefits as many citizens as possible Uganda is awash in oil. But how can the country avoid the negative development outcomes experienced by every previous oil-rich country in Africa?
The natural-resource curse often produces oil-rich nations that are ruled by dictators and are so reliant on petroleum that its economic growth is hindered because all other industries are neglected. The prediction of the end of fossil fuels will
Nairobi Multinationals and governments must work to ensure new oil and mineral discoveries across Africa benefit the people of the continent and do not trap them in a 'resource curse', academics, campaigners and executives meeting at Oxford
As more resource-rich nations learn to dodge the 'oil curse,' Venezuela can do the same...Despite sitting on the world's largest oil reserves, its economy is falling apart fast. Basic goods are scarce, inflation is raging, and blackouts are common.
Countries rich in minerals are often poverty-stricken, corrupt and violent. A relatively small rent-seeking elite captures vast wealth while the dominant sector crowds out the rest of the economy. The parallels with countries blessed' with large and