Natural Resources in Economies’ Status Transition from ‘Periphery’ to ‘Center’

SUN Yongping

Assistant Professor, Department of Economics, Hubei University of Economics, Hubei, China
Abstract: This paper divides the history of global trade since 1000AD into three periods using Raúl Prebisch’s center-periphery pattern and summarizes the effects of resource

trade on periphery economies during each period. However, this paper argues that the resource curse paradox does not justify isolation between developing and developed countries. On the contrary, developing countries should be encouraged to integrate into the existing center-periphery pattern and achieve economic growth through resource trade. This paper supplements the existing literature’s analysis of resource endowment’s role in global trade and offers recommendations for resource-rich developing countries to avoid the resource curse, identify a viable path to development, and achieve sustainable development by harnessing natural resources more productively.

Key words: natural resources, economic growth, resource curse, center-periphery pattern

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