Resource depletion and terms of trade collapse : "The zambian disease"
29T14:25:05Z September 2009
This paper considers the response of a labour-abundant developing economy, initially heavily dependent on a single resource, to depletion of that resource or to permanent collapse in the terms of international trade agaist the resource sector. It is shown that agriculture will be the new long-run growth sector. But if the country borrows abroad in order to maintain living standards in the short-run and medium-run following the resource sector collapse, the economy might be forced to repudiate its international debts even if growth occurs in the longer-run.
A hard copy is available in UCD Library at GEN 330.08 IR/UNI
Type of Material
University College Dublin. School of Economics
UCD Centre for Economic Research Working Paper Series
Subject – LCSH
Developing countries--Economic conditions
Status of Item
Not peer reviewed
This item is made available under a Creative Commons License