Natural resource abundance: a hidden drag on Africa's development?
- Is natural resource abundance a drag on Africa's development: download the presentation by the HSRC's Dr Alexis Habiyaremye, EPD June 06, 2019
HSRC Seminar Series
Date: 6 June 2019
Time: 12h30 - 14:00
Venues: Pretoria, Durban and Cape Town (Videoconferencing facilities: see below)
Speaker: Dr Alexis Habiyaremye, Economic Performance and Development (EPD) research unit, Human Sciences Research Council
The control of strategic raw materials and energy supplies is vital to maintaining industrial and technological leadership of advanced economies. Multinational oil and mining corporations play an important role in the strategic setup to achieve that control. While Africa is home to approximately 30 percent of the earth's remaining mineral resource deposits, and has sizable amounts of oil and natural gas, its population has hardly benefited from this abundance. Instead of bringing prosperity, the exploitation of these natural resources has often been a source of violent conflicts and environment degradation in various resource-rich countries, resulting in dismal socio-economic outcomes. The resource curse literature has suggested economic and social factors to explain poor growth performance in resource-rich countries, but the role played by foreign corporations has been largely absent from the academic debate. This paper goes beyond the traditional resource curse thesis to discuss the nexus between foreign ownership of African natural resources and the observed socio-economic performance.
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