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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.
Some, such as the Kyoto Protocol, differentiate between types of countries and each nation's respective responsibilities under the agreement. Several hundred international environmental agreements exist but most cover only a limited number of countries. These bilateral or sometimes trilateral agreements are only binding for the countries that ...
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]
Acemoglu and Robinson view geography as an initial factor for a country, but its impact on development is determined by institutions. They introduce the theory of Reversal of Fortune, which explains how previously poor countries, like the U.S., Australia, and Canada, have become wealthy, despite limited natural resources.
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".
A country that consumes more than 1.73 gha per person has a resource demand that is not sustainable world-wide if every country were to exceed that consumption level simultaneously. Countries with a footprint below 1.73 gha per person might not be sustainable: the quality of the footprint may still lead to net long-term ecological destruction.
The Bottom Billion: Why the Poorest Countries are Failing and What Can Be Done About It is a 2007 book by Paul Collier, Professor of Economics at Oxford University, exploring the reasons why impoverished countries fail to progress despite international aid and support. In the book Collier argues that there are many countries whose residents ...
Some resources that are obtained through extraction include but are not limited to gold, diamonds, oil, lumber, water and food. [30] This occurs through techniques such as mining, drilling and deforestation. Resources are typically extracted from developing countries as a raw material. [30]