Why do some countries stay poor despite having abundant natural resources?

[Felicity_Tide]

WHAT THINGS ARE NEEDED TO TURN NATURAL RESOURCES INTO PROSPERITY IN YOUR POINT OF VIEW ?

Personally, I would say that corruption is practically a general term that defines every single problem that involves the inadequate use of resources as far as my country is concerned. From illegal mining operations, to government not using the generated revenues on the necessary, they all narrow down to some kind of corruption that is ongoing at a certain level of government. I can confidently say that if my country goes on to use every single penny that comes from our resources to develop the country, I don't think the majority would still find interest in relocating.

Imo, the only thing that is needed is to have a less corrupt government. I know having a government with zero corruption is not that common, but a less corrupt government could actually transform the natural resources into prosperity. And not just less corrupt government, but a competent one as well.

[DYOR+BTC]

This is a very  serious discussion that requires serious attention as that is considered the major problem affecting most nations in the world now,  most nations especially African country's are blessed with numerous mineral resources but because of bad leadership system they ends up suffering.
Bad leadership system is one of the main reasons most blessed nations are suffering, this leaders elected to administer there leadership functions changes there thought and place there selfishness over the interest of the citizens leaving a blessed nations to suffer when they are supposed to be enjoying the blessings of God.

[ColdLava40]

WHAT THINGS ARE NEEDED TO TURN NATURAL RESOURCES INTO PROSPERITY IN YOUR POINT OF VIEW ?

Every country blessed with natural resources just need good leadership to prosper.

In a situation of bad governance, the resources are either not properly utilized or they processed but public funds don't circulate back into the economy.

Africa is a very good example of this calling. We have so many rare minerals in Africa, but it's still very underdeveloped.

Sometimes I jealous the European countries not because of how advanced they became, but how they maximized their little resources into something good.

[Finestream]

WHAT THINGS ARE NEEDED TO TURN NATURAL RESOURCES INTO PROSPERITY IN YOUR POINT OF VIEW ?

Every country blessed with natural resources just need good leadership to prosper.

In a situation of bad governance, the resources are either not properly utilized or they processed but public funds don't circulate back into the economy.

Africa is a very good example of this calling. We have so many rare minerals in Africa, but it's still very underdeveloped.

Sometimes I jealous the European countries not because of how advanced they became, but how they maximized their little resources into something good.

For any country to maximized its prosperity, good leadership should be executed first, otherwise all those natural resources will be put into waste, and will not be benefited well by the local citizens. Unfortunately, having good leadership remains a dream for most of the countries. Majority that holds position now are most likely for corruption gains, and to make their lives better while leaving the local people struggling to survive everyday.

[batang_bitcoin]

Corruption as its finest. The politicians who are the ones signing the deals are having the money paid to them straight to their pockets and not to the government funds and taxes. There could be a little of it but the most of it is on their benefits. They don't know how to take care of the natural resources and that's why natural calamities are also coming to those areas that they are corrupting. Because there's no money left for the government to do the necessary actions if trees or precious metals are mined. No one cares after the natural resources afterward being benefited from.

[Shinpako09]

Just like in our country, the PH. It's not a poor country; it's just being plundered by corrupt politicians, corrupt government officials, and even greedy elites, which is one of the reasons why we remain a third-world country until now.

While our neighboring countries keep advancing, we're moving in the opposite direction. What makes it even worse is that many citizens are fanatics of politicians, which I think should never happen. I don't understand why they're still so loyal despite everything happening in PH politics.

That's also one of the reasons corruption continues. As long as corrupt politicians keep getting public support, they'll keep doing what they're doing.

[juttsab@]

Natural resources does not guarantee success or the prosperity of any country in fact it depends on how those resources are managed and used, there are countries who have very high number of resources but they are poor, the main problem is that they do not have the required and strong institutions that can clearly distribute those resources or generate revenues. The another issue can be that they do not have the required amount of machinery or technology required to use those resources effectively and also investing that resourcing income in different sectors like health care, infrastructure and technology is also and issue that if not taken care do not benefit.

[Franklyn-wood]

Just like in our country, the PH. It's not a poor country; it's just being plundered by corrupt politicians, corrupt government officials, and even greedy elites, which is one of the reasons why we remain a third-world country until now.

While our neighboring countries keep advancing, we're moving in the opposite direction. What makes it even worse is that many citizens are fanatics of politicians, which I think should never happen. I don't understand why they're still so loyal despite everything happening in PH politics.

That's also one of the reasons corruption continues. As long as corrupt politicians keep getting public support, they'll keep doing what they're doing.

Having natural resources and yet be poor sounds impossible to the ears but very possible in real life. Many countries have resources and yet very poor which could be as a result of ignorance of same resources, like no proper channels to handle it and send for direct processing. Greed might also makes it look valueless to others while they sell it out and a cheaper price in other no to attract the attention of others.

[viljy]

It depends on what you mean by a poor country. If the people of a country are poor, but the oligarchs and the comprador government are rich, is it a poor country or a rich country? It depends on how you look at it. The same goes for the economy. An economy that focuses on enriching the oligarchs is completely effective from their perspective.

The problem is that it is rare for rulers to prioritize the well-being of the people. Additionally, there is still a hidden economic neocolonialism at play. It's no secret that the wealth of many countries is directly or indirectly based on the actual robbery of other countries.

[Umulala-alala]

This is always use to bad governance in the country, corruption among political leaders, like my country for an example we have enough of nature resources oil and gas but still known as one of the poorest country in world this is because we have bad leader who are only concerned about there own family then what so ever any body is going through is never there business, so what ever bad situation any country with natural resources is facing is the cause of there leaders.

[PakHolder]

I would add another point, which is human resource development. A country does not become rich just by having minerals, oil or gas. If there is no investment in education and technology  ,then there is not much profit from those resources in the long run. Many successful countries have used the income from natural resources to strengthen the infrastructure, education and industrial sectors. On the other hand, some countries have relied solely on the export of raw materials, as a result of which the economy has suffered a major setback when prices in the world market fall.

[Die_empty]

WHAT THINGS ARE NEEDED TO TURN NATURAL RESOURCES INTO PROSPERITY IN YOUR POINT OF VIEW ?

The most important resource is human. Regardless of how rich a country is in natural resources, if the citizens are not educated or skillful, these resources will not be harnessed for the good of the country. An example is China. The goverment invested heavily in education, and the people became empowered to maximize the resources the country has.

From your topic. It's simple. Neocolonialism. colonisers never left. They just wore a different gown. Other factors might contribute. But the first and foremost of them all is Neocolonialism. Quote me if I am wrong.

It is part of the problem, but not the main issue behind underdevelopment. Corruption in most poor countries has been the main agent of underdevelopment. Some countries that are suffering from Neocolonial influence are not doing badly because they have good leaders. At the same time, those with corrupt leaders conspire with neocolonialists to impoverish the people.

[Exitoral]

WHAT THINGS ARE NEEDED TO TURN NATURAL RESOURCES INTO PROSPERITY IN YOUR POINT OF VIEW ?

The most important resource is human. Regardless of how rich a country is in natural resources, if the citizens are not educated or skillful, these resources will not be harnessed for the good of the country. An example is China. The goverment invested heavily in education, and the people became empowered to maximize the resources the country has.

From your topic. It's simple. Neocolonialism. colonisers never left. They just wore a different gown. Other factors might contribute. But the first and foremost of them all is Neocolonialism. Quote me if I am wrong.

It is part of the problem, but not the main issue behind underdevelopment. Corruption in most poor countries has been the main agent of underdevelopment. Some countries that are suffering from Neocolonial influence are not doing badly because they have good leaders. At the same time, those with corrupt leaders conspire with neocolonialists to impoverish the people.

It is the main issue bro. Corruption is everywhere even the so called America. Check Burkina Faso today after they expelled France from their country, things became better. In Nigerians case it was good luck that supposed to be our saviour but they didn't allow him rule. Barack Obama's wife was there pretending to care carrying play cards that says bring back our girls. Good luck was a good man and he would have ruled well. But the westerns have other agenda. If you look at the north closely you will notice a pattern. Americans always coming to end terrorism year after year. Terrorism still plaguing the north. So what are we saying ? ABI you didn't hear that NGO'S organised by the Americans are smuggling weapons into Nigeria. The news is everywhere. I hope you come to the realisation that the enemy is not within but outside. Moreover, Neocolonialism will not make you grow well. They are the ones controlling how big you grow.

[Kelward]

Corruption:
Resource money goes to politicians and elites, not to schools, hospitals, or roads. Secret deals with contractors are common.

One-resource risk:
If the economy depends on just one resource, it crashes when prices fall.

No investment:
Investors avoid the country due to weak laws and no property rights, so no new factories are built.

The solution:
A stable government and low corruption are needed to turn resources into prosperity.

WHAT THINGS ARE NEEDED TO TURN NATURAL RESOURCES INTO PROSPERITY IN YOUR POINT OF VIEW ?

You have done justice to the reasons why countries who have abundant resources remain poor, I agree with your points of view and if the reasons that you mentioned are not addressed in a government then their economy will be going from bad to worse. In summary bad leadership is the root cause of none utilization of the natural resources of a country, except the government changes from their selfish interests or be booted out the country will continue to remain in ruin.

What all of these poor countries with lucrative natural resources have in common is bad leaders who are very corrupt that they don't care how their resources are taken out as far as they are benefiting personally. You cannot help but agree with those that believes that most of these bad leaders are intentionally left to remain in power so that no powerful oppositions can question why their resources are not adding value to the lives of the common man on the streets.

[Sammye3]

Corruption:
Resource money goes to politicians and elites, not to schools, hospitals, or roads. Secret deals with contractors are common.

One-resource risk:
If the economy depends on just one resource, it crashes when prices fall.

No investment:
Investors avoid the country due to weak laws and no property rights, so no new factories are built.

The solution:
A stable government and low corruption are needed to turn resources into prosperity.

WHAT THINGS ARE NEEDED TO TURN NATURAL RESOURCES INTO PROSPERITY IN YOUR POINT OF VIEW ?

Well, you have mentioned the most common reason "corruption" and that is beyond doubt the cause of poverty in a country rich in natural resources.

This could be found mostly in African countries where politicians have their personal interests over the interests of the people and the resources are not used to its full potential to better the lives of citizens but rather exported out in exchange for product of lesser value.

I would not entirely say that the country lacks system but corruption is the right word to use in categorizing such situation.

[Shineup]

Corruption:
Resource money goes to politicians and elites, not to schools, hospitals, or roads. Secret deals with contractors are common.

One-resource risk:
If the economy depends on just one resource, it crashes when prices fall.

No investment:
Investors avoid the country due to weak laws and no property rights, so no new factories are built.

The solution:
A stable government and low corruption are needed to turn resources into prosperity.

WHAT THINGS ARE NEEDED TO TURN NATURAL RESOURCES INTO PROSPERITY IN YOUR POINT OF VIEW ?

You have done justice to the reasons why countries who have abundant resources remain poor, I agree with your points of view and if the reasons that you mentioned are not addressed in a government then their economy will be going from bad to worse. In summary bad leadership is the root cause of none utilization of the natural resources of a country, except the government changes from their selfish interests or be booted out the country will continue to remain in ruin.

What all of these poor countries with lucrative natural resources have in common is bad leaders who are very corrupt that they don't care how their resources are taken out as far as they are benefiting personally. You cannot help but agree with those that believes that most of these bad leaders are intentionally left to remain in power so that no powerful oppositions can question why their resources are not adding value to the lives of the common man on the streets.

The most annoying part of it about the bad leaders is that most of them came from a very poor background and they understood the language of the poor society and what could possibly be their interest but on getting opportunity of leadership where they are meant to make good decisions that will benefit the general public which they understood what they are going through because they were was once part of the poor masses,  they sold their conscience and become selfish and turned back against the people, to speak the truth things are supposed to be better than it is in most countries but because of bad and corrupt leaders they are lacking so many things and people are suffering, things will only get to change when good people with good heart get in to office.

[junder]

The solution is to eliminate the bad side of the many cases that occur, namely corruption, one of them. Poor government performance can also be a cause of why the country remains poor because it has sufficient and even abundant natural resources, corruption is one of the bad performance of the government or officials that they usually do even in my country this is like a habit that will definitely be done by the government even though its status is still new. Lately in my country the price of fuel has risen drastically, whether this is the work of the government or not, it is clear that this really makes many people complain.

[The Cryptovator]

Corruption:
Resource money goes to politicians and elites, not to schools, hospitals, or roads. Secret deals with contractors are common.

This is the major issue for my country; it's not only a major issue, it's the only issue that creates all other issues. So as a poor country, my country probably won't become a developed country either; at least probably I will not be a witness to the developed country. No matter who is in the ruling party, their first priority is corruption. So, regarding development, nothing is on their mind.

No investment:
Investors avoid the country due to weak laws and no property rights, so no new factories are built.

Investment will not come unless the government is unstable due to corruption. If you change a higher tax from the investors, then why should they choose a shithole country? Because big international investors have a lot of alternatives. That means the corruption is the one that is responsible for staying poor.