The ___________ refers to low and middle-income countries with an abundance of natural resources but that do not necessarily achieve higher output levels than otherwise similar countries.

Question

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The term “resource curse” refers to the paradox that countries with an abundance of natural resources, such as oil or minerals, often have slower economic growth rates and higher levels of corruption than countries with fewer natural resources. These countries may become overly reliant on their natural resource exports, neglecting other industries and failing to diversify their economies. As a result, they may experience economic instability and poverty despite their resource wealth.

The ___________ Refers to Low and Middle-Income Countries with an Abundance