Resource depletion and terms of trade collapse : "The zambian disease"

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Title: Resource depletion and terms of trade collapse : "The zambian disease"
Authors: Norton, Desmond
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Date: Jan-1988
Abstract: 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.
Type of material: Working Paper
Publisher: University College Dublin. School of Economics
Series/Report no.: UCD Centre for Economic Research Working Paper Series; WP88/2
Subject LCSH: Economic development
Developing countries--Economic conditions
Natural resources
Language: en
Status of Item: Not peer reviewed
Appears in Collections:Economics Working Papers & Policy Papers

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