Content by Gerhard Toews
In the two years following the discovery, FDI inflows, driven by new projects in new industries, increased by 58%. There was also strong growth in manufacturing, retail, business services and construction, accompanied by substantial job creation. Natural resources and growth Natural resources are often thought of as a curse, slowing economic growth in resource-rich...
Publication - Working Paper
The natural resource price boom of the 2000s and the accompanying discoveries, many of them in sub-Saharan Africa, revived economists’ interest in the effect of natural resources on development. One notable insight is that discoveries themselves should be of interest to economists as they have their own economic consequences before extraction happens. Indeed, recent...