does scarcity of natural resources effect a nations development?

Question

if a country has less of resources can it still develop.........if yes.how

Answer 1

Always it effect a nations development .A country can develop through open international trade even there's scarcity of natural resources.

Answer 2

I'm certain that you will find all financial solution at: loanhome.info-

RE Does scarcity of natural resources effect a nations development?

if a country has less of resources can it still develop.........if yes.how

Answer 3

A good example of a highly developed country without natural resources is Switzerland. They have developed their banking skills, which is far more important to their prosperity than natural resources.
And there are loads of countries in Africa that are rich in natural resources but are nevertheless poor due to primarily bad governments and poor exploitation of their resources..
Today particularly, high tech and information technology are much in demand, as well as managerial skills. Sillicon Valley in California is noteworthy for its intellectial richness despite a paucity of natural resources in the area.
China and India are graduating a plethora of engineers and other intellectually important persons. This will contribute greatly to the future of their countries, regardless of what each country might have in terms of natural resources.
Knowledge and education are the key to the future prosperity of a country.

Answer 4

yes to some extent the scarcity of natural resources affects nations development. but if nation concentrates on development of infrastructure development & technology improvement & development of human resources then it can still develop at the fast rate

Answer 5

Well the quantum of natural-resources present in a country does not play a decisive factor in development of a country. Firstly a load of countries in Africa have abundance of resources, yet many of them dont have a national income above $3. Look at India, it has abundance of iron, diamond and a recent found pile of uranium, yet we need a treaty with US to get nuclear supplies.
It is the basic infrastructure of the country's economy, their investments and foreign incoming in form of FDI and FII which makes huge amount of contribution to its development.
For instance UAE which has abundance of only petroleum yet it has emerged in various sectors by diversifying its pursuits.
Countries make mistakes and learn and modify their economics, for example the NEP introduced in 1991 in India had set the country to fast track of debt relief.

Answer 6

yes it is possible . although resources are required but arent sufficient for development . take the exampl of japan, no steel , exports from india, and makes the most costly steel in the world

Answer 7

even wen resourses r less the quality of the people can play a big role in developing a nation like in the case of japan..

Answer 8

yes