Lessons of the Spanish Empire, or the Curse of Resource Abundance
18 Pages Posted: 27 Jul 2012
Date Written: July 26, 2012
Abstract
The role of natural resources in contributing to stable economic development is of growing interest to economists and politicians. In evaluations of the prospects for development of a given country it was once assumed that rich natural resources and a vast territory provided favorable conditions for successful socio-economic development. However, in recent decades this assumption has been qualified: it is now realized that these conditions create only the potential for growth, whereas actual economic development can turn out to be unimpressive
Keywords: natural resource, socio-economic development, Sain in16-17 centuries
JEL Classification: N53, N73, N83
Suggested Citation: Suggested Citation