Questions whether natural resources are a blessing or a curse in the development process of a country, using Nigeria as a case study.
Written in 2007; 9,950 words; 28 sources; APA; $ 201.95
Paper Summary:
The concept that countries that are endowed with natural resources such as oil, natural gas, and gold should exploit them to promote economic growth and development has long been recognized as one of the fundamental principles of development economics. The principle of comparative advantage also maintains that countries should exploit those factors that they hold in greatest abundance. The revenues that are generated by natural resources can be used to assist in the promotion of economic growth in this view, which will then allow the economy to diversify and produce the kinds of higher value-added goods that are necessary to further accelerate economic development. The resource curse theory. This study provides a comprehensive analysis of peer-reviewed and scholarly literature to determine the relationship between economic growth and human capital, and what current theories and models provide insights into this process. A case study of Nigerian underdevelopment is presented to determine how, in spite of abundant natural resources, the country has failed to fully realize the potential of many of its natural resources. Further, research on the role of western nations in conflicts in Africa as an indirect factor for the mismanagement of natural resources in Africa is also provided. A summary of the research, salient conclusions and timely recommendations are presented in the concluding chapter. The paper includes tables and graphs.
Table of Contents:
Chapter 1
Introduction
Statement of the Problem
Purpose of Study
Importance of Study
Scope of Study
Rationale of Study
Overview of Study
Chapter 2
Review of Related Literature
Chapter 3
Methodology
Description of the Study Approach
Data-gathering Method and Database of Study
Chapter 4
Data Analysis
Chapter 5
Summary, Conclusions and Recommendations
From the Paper:
"While petroleum products are a relative newcomer to Nigeria's "resource curse" mix, coal and tin have been mined in the country since the early colonial period; however, coal production decreased following World War II, as a consequence of the redirection of resources to the potentially more lucrative oil industry. Nevertheless, substantial coal reserves of varying quality remain throughout Nigeria's south-central states (see map at Appendix B) in a strip of country that stretches from Benin to Cameroon. Furthermore, columbite and tin can be found in the Jos Plateau and there are iron-ore deposits in the Lokoja area (situated close to the Ajaokuta steel complex in the lower Niger valley)."
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