06-04-2013, 01:05 PM
Education building human capital is very important here as resource based industries are very capital intensive, the risk is all to real that only few will benefit, that it will appreciate the currency (the dreaded 'Dutch disease,' I should know) which makes export industry more difficult to establish.
It's for a reason that the Asian miracle was based on land reform and education, mostly in resource poor countries. Indonesia a bit of an exception, but they have the benefit of having a rather large domestic market.
It's for a reason that the Asian miracle was based on land reform and education, mostly in resource poor countries. Indonesia a bit of an exception, but they have the benefit of having a rather large domestic market.