Abstract

The availability of raw material resources is an important factor of global competitiveness. In fact, this point may not be applied to all countries. Moreover, according to research, in many developing countries the natural resources endowment is inversely related to the pace of economic growth and living standards, and positively related to income inequality. Such negative connection between the natural resources endowment and economic growth is named the “resource damnation” . The development analysis of countries rich in mineral resources demonstrates that the economic policy pattern plays a key role in prevention of the “Dutch disease”, achievement of sustainable economic growth and improving competitiveness of national economy.

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