Journal of Economic Literature
Book Reviews
2026-08-28
Adrian Wood of Oxford University reviews “Natural Resources and Economic Development” by Edward B. Barbier,. The EconLit Abstract of the reviewed work begins “Explores the contribution of natural resources to economic development, focusing on the low and middle-income countries of Africa, Asia, and Latin America. Provides an overview of the role of natural resources in economic development. Explores the degree of dependence of low and middle-income countries on natural resource exploitation and examines further the key paradox concerning the role of natural resources in economic development. Considers the economic factors underlying rapid land and water use change in low and middle-income countries, and illustrates the issues with case studies. Draws a link between two types of “dualisms” found in developing economies: their “resource dependency” within the world economy and the tendency for the rural poor within these economies to be trapped in a poverty-environmental degradation cycle. Elaborates further on the necessary policies, institutions, and reforms required to break these cycles. Barbier is John S. Bugas Professor of Economics at the University of Wyoming. Index.”