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Natural resources can be a substantial part of a country's wealth; [7] however, a sudden inflow of money caused by a resource extraction boom can create social problems including inflation harming other industries ("Dutch disease") and corruption, leading to inequality and underdevelopment, this is known as the "resource curse".
The exploitation of natural resources describes using natural resources, often non-renewable or limited, for economic growth [1] or development. [2] Environmental degradation , human insecurity, and social conflict frequently accompany natural resource exploitation.
The resource curse, also known as the paradox of plenty or the poverty paradox, is the hypothesis that countries with an abundance of natural resources (such as fossil fuels and certain minerals) have lower economic growth, lower rates of democracy, or poorer development outcomes than countries with fewer natural resources. [1]
Protected areas or conservation areas are locations which receive protection because of their recognized natural or cultural values. Protected areas are those areas in which human presence or the exploitation of natural resources (e.g. firewood, non-timber forest products, water, ...) is limited. [1]
Some resources that are obtained through extraction include but are not limited to gold, diamonds, oil, lumber, water and food. [29] This occurs through techniques such as mining, drilling and deforestation. Resources are typically extracted from developing countries as a raw material. [29]
The Small Island Developing States (SIDS) are a grouping of developing countries which are small island countries and small states that tend to share similar sustainable development challenges. These include small but growing populations, limited resources, remoteness, susceptibility to natural disasters , vulnerability to external shocks ...
The depletion of resources has been an issue since the beginning of the 19th century amidst the First Industrial Revolution.The extraction of both renewable and non-renewable resources increased drastically, much further than thought possible pre-industrialization, due to the technological advancements and economic development that lead to an increased demand for natural resources.
Despite its limited natural resources, Liechtenstein is one of the few countries in the world with more registered companies than citizens; it has developed a prosperous, highly industrialized free-enterprise economy and a financial service sector as well as a living standard that compares favourably with those of the urban areas of ...