Essay - Natural Resources a Blessing or a Curse for the Development...

NATURAL RESOURCES A BLESSING OR A CURSE FOR THE DEVELOPMENT PROCESS

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The concept that countries that are endowed with natural resources such as oil, natural g*****, and gold should exploit them to promote economic growth ***** development has long been recognized as one of the fundamental principles of development economics. The principle of comparative advantage also maintains that ***** ***** exploit those factors that *****y hold in greatest abundance. The revenues that are generated by natural ***** can be used to assist ***** the promotion of economic ***** in this view, which will then allow the economy ***** diversify and produce the k*****ds of higher value-added goods that ***** necessary to further accelerate ***** development. The resource curse theory This study provides a comprehensive ********** of the peer-reviewed and scholarly literature to determine the relationship *****tween economic growth and human capital, ***** what current theories and models provide insights into this process. A case study of the Nigerian under***** is presented to determine how, in spite of abundant natural resources, ***** country has failed to fully realize the potential ***** many of its ***** resources. Further, research on the role of western nations ***** conflicts in Africa as an indirect fac*****r for ***** mismanagement ***** natural resources in Africa will also be provided. A summary of the research, salient conclusions and timely recommendations are ***** in the concluding chapter.

Chapter 1: Introduction

Statement of the Problem

***** of Study

Importance of Study

Scope ***** Study

Rationale of *****

***** of Study

Chapter 2: Review of Related Literature

Chapter 3: Methodology

Description of ***** ***** Approach

Data-gathering Method ***** Database of Study

Chapter 4: Data Analysis

Chapter 5: Summary, Conclusions and Recommendations

List of Tables

***** *****. Exports of fuels, minerals, and metals, per capita GNP, and average annual growth, 1980-199***** - Selected Low- to Mid-Income Countries

Table 2. Selected Indexes of World Agricultural and Food Production

Table *****. World Bank Basic Scorecard -- Nigeria compared to Lower-Middle

Income Countries: 199*****-Most Recent

Table *****. Knowledge Index -- Nigeria ***** to ***** Income

Countries: 1995-Most *****

***** 5. Economic Incentive Regime -- Nigeria compared to Lower-Middle

***** Countries: 1995-Most Recent

***** 6. Education -- ***** compared ***** Lower-Middle Income Countries:

***** Recent

***** 7. Innovation -- Nigeria compared to Lower-Middle ***** Countries:

1995-Most Recent

***** 8. Information Infrastructure -- ***** compared to Lower-Middle Income

Countries: 1995-Most Recent

Table 9. ***** ***** Development Indicators for Nigeria and Selected *****n Countries

Table 10. *****: Annual natural gas production ('000,000 cu m) - 1965 - 1999

Table 11. ***** per capita in no*****inal U.S. Dollars

Table 12. Balance of Trade as a percent*****ge of total trade - 1950 - 2000

List ***** Figures

Figure 1. ***** Indexes of ***** ***** and Food Production

***** 2. Knowledge Economy Index (Average ***** 3, 4, 5, 6) -- Nigeria ***** to ***** Income *****: 1995-Most Recent

Figure 3. Knowledge ***** (Average of *****,5,6) -- ***** compared to Lower-

***** Income Countries: ***** Recent

Figure 4. Economic Incentive