05.10.2010 - Latin America's commodity dependence
From Japantimes.co.jp: Latin American history is littered with tales of commodity booms gone bust like Potosi's. That the quick riches never seem to produce lasting wealth has led some to conclude that the region, like other resource-rich regions, is under a "natural resource curse." But for Latin America, where 93 percent of the population and 97 percent of economic activity is in countries that are net commodity exporters, the hex is far from universal. A team of World Bank economists and political scientists this year has found some important trends that suggest today's commodity booms will not end like the old..............................................Full Article: Source
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