Natural resource-richness is basically a blessing, as stocks of natural wealth are among the factors of production which help determine the output per worker of a country. But it may become a curse, depending on the quality of governance and on the policies adopted to cope with macroeconomic challenges that accompany it.
Natural wealth as a blessing supposes that the use of non-renewable resources must correspond to some extent to its transformation into the other types of assets. Such transformation passes by production diversification over time. Natural wealth must crowd-in other activities rather than crowd them out.
Blessing supposes governance features that avoid rent captures for patronage purposes and misallocation of resources, as well as appropriate policies to deal with macroeconomic challenges that come with resource richness, such as Dutch disease effects of booms, temptations to over-borrow, and periodic situations of commodity price busts.
Sem dúvida, alocar de forma plena os escassos recursos disponíveis de uma economia é fundamental para o crescimento sustentável. O incrível é que países, como o Brasil, insistem em desperdiçar esses recursos, como por exemplo, a questão ambiental. Abraços
László Árva May 29, 2021
Is not it possible to have the text in pdf or in word format? Podcasts are rather difficult to follow…
Thx best wishes!
L. Árva
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Sem dúvida, alocar de forma plena os escassos recursos disponíveis de uma economia é fundamental para o crescimento sustentável. O incrível é que países, como o Brasil, insistem em desperdiçar esses recursos, como por exemplo, a questão ambiental. Abraços
Is not it possible to have the text in pdf or in word format? Podcasts are rather difficult to follow…
Thx best wishes!
L. Árva
A riqueza natural não deve ser vista apenas como fatores de produção. A riqueza natural é base da vida e da estabilidade social e econômica.
A segunda nao nega a primeira
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