We are pleased to share the work of Professor Augustin Kwasi Fosu, Fellow of the Academy (Division of Social Sciences) and Member of the CORE Academy’s Academic Committee, titled

“The Future of Natural Resources and Development: Whither Low- and Middle-Income Countries?”

This paper explores the critical role of non-renewable resources in the developing world and assesses future trends in the global demand and supply of minerals, metals, and hydrocarbons. It further examines how these shifts are likely to influence the growth and development trajectories of low- and middle-income countries.The analysis reveals that the impact will be highly heterogeneous: while some nations may benefit from new opportunities in mineral extraction related to renewable energy production, countries heavily dependent on oil, gas, and coal—predominantly middle-income economies—face a less optimistic outlook. The projected decline in global demand for hydrocarbons over the coming decades could result in slower economic growth and reduced fiscal revenues.

For further information:
https://www.cgdev.org/publication/future-natural-resources-and-development-whither-low-and-middle-income-countri

Citation: Fosu, Augustin Kwasi, and Dede Woade Gafa. The Future of Natural Resources and Development: Whither Low- and Middle-Income Countries? Washington, DC: Center for Global Development, 2023.