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Resource Curse
“Economic growth since 1965 has varied inversely
with the share of natural capital in national wealth
across countries….”
“Natural capital appears to crowd out human capital,
thereby slowing down the pace of economic
“..nations that believe that natural capital is their
most important asset may develop a false sense of
security and become negligent about the
accumulation of human capital”
- Gylfason, European Economic Rev., 45, 847859 (2001)
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