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Abstract
Lack of structural change, unsustainable growth, and noninclusive growth are frequently mentioned features of natural resource–intensive economies. There is renewed interest in these issues after the new wave of commodity booms over the past 10 years. It is often stated that the challenge is to leverage the billions of dollars in natural resource–related rents to achieve growth, diversification, and inclusive sustainable development. Yet based on theory and evidence from earlier years, the risk of such hopes being thwarted by a recurrence of the natural resource curse is well recognized. The perceived risk encompasses not only the possibility of disappointing growth, but also the possibility that growth will be noninclusive, with disappointing wage and employment growth and a widening dispersion of incomes.
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