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Natural Resource Abundance, Growth, and Diversification in the Middle East and North Africa: The Effects on Natural Resources and the Role of Policies
Author(s): Ndiame' Diop (Editor), Daniela Marotta (Editor), Jaime de Melo (Editor)
- Publisher: World Bank Publications
- Publication Date: 20 Sept. 2012
- Edition: Illustrated
- Language: English
- Print length: 208 pages
- ISBN-10: 0821395912
- ISBN-13: 9780821395912
Book Description
MENA is one of the richest regions in the world in terms of natural resources: it holds more than 60 percent of the world’s proven oil reserves, mostly located in the Gulf region, and nearly half of gas reserves. Oil represents 80-85 percent of merchandise exports in the region, making it highly depending on fluctuations in international prices. A long strand of economic literature has suggested that such dependence may hurt a country’s growth prospects and the scope for job creation by reducing economic diversification.
