Resource provision construction

Abstract The term “resource curse” is usually used to refer to an economic situation where natural resources, which are abundant in some countries, prevent them from diversifying their economies. A country cannot change the structure of its economy by abandoning the extractive industries to the deve...

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Bibliographic Details
Published inIOP conference series. Earth and environmental science Vol. 751; no. 1; p. 12075
Main Authors Kolmakov, A E, Leskinen, M I, Bogatyrev, K D
Format Journal Article
LanguageEnglish
Published Bristol IOP Publishing 01.04.2021
Subjects
Economic development
Economic forecasting
Economic growth
Economics
Natural resources
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Summary:Abstract The term “resource curse” is usually used to refer to an economic situation where natural resources, which are abundant in some countries, prevent them from diversifying their economies. A country cannot change the structure of its economy by abandoning the extractive industries to the development of value-added products and services. In this article, the term “resource curse” refers to a specific type of economic outlook that is characterized by an absolutisation of the role of natural resources in creating national wealth. According to the authors, the bearers of this type of worldview account for a significant proportion of Russians in the economically active age group. The danger of such a worldview is that its bearers are not inclined to develop their abilities and improve their skills. This is hindered by the belief that there is little contribution to the national wealth (national income) of resources other than the Earth. This type of belief puts the country’s economic growth in jeopardy. The indirect danger of the “resource curse” is that its bearers are usually very radical in their political decisions.
ISSN:1755-1307
1755-1315
DOI:10.1088/1755-1315/751/1/012075