Resource Rich Economies Essay Example | Topics and Well Written Essays - 2250 words

Resource Rich Economies - Essay Example This study stresses that  various countries of the world choose different paths of development. However, it must be noted that in the majority of the cases this choice is conditioned by the environment and availability of resources. Thus, those countries that are deprived of natural resources compete using other valuable materials. For example, Japan that can hardly boast any oil or gas is a widely known leader of technology. On the other hand, those countries that were blessed with natural resources often make emphasis on their export, forgetting about other ways of becoming successful. That is why it is often suggested that resource rich economies are poor, underdeveloped and politically unstable.   This paper will analyze the example of Russia and prove that abundance of resources can have a negative impact on a country.  If one considers the Russian billionaires, one will be able to see that they are less likely to help their compatriots and are willing to invest abroad more. For example, Roman Abramovich bought Chelsea football club in England and this was seen as manifestation of the Russian wealth. However, it is obvious that he could have bought one or even several football clubs in Russia and pay for the best equipment and players for them. However, Abramovich decided to invest his money in a foreign football club which means that he is not willing to share his wealth with his compatriots.