What is meant by resource nationalism?
Resource nationalism is a term used loosely to describe the tendency for (nation) states to assert economic and political control over natural resources found within its sovereign territory.
What is resource nationalism cycle?
The resource nationalism cycle describes a situation whereby a host state solicits foreign direct investment and then later seeks to maximise the benefits accruing from such an investment, once it has been sunk. This could either mean increasing taxes or nationalising assets belonging to an investor outright.
What are resource of people?
Human resources is the set of people who make up the workforce of an organization, business sector, industry, or economy. A narrower concept is human capital, the knowledge and skills which the individuals command. Similar terms include manpower, labor, personnel, associates or simply: people.
What is resource classification?
Classification of Resources Resources can be classified in the following ways. (a) On the basis of origin – biotic and abiotic. (b) On the basis of exhaustibility – renewable and non-renewable. (c) On the basis of ownership – individual, community, national and international.
What is meant by the term resource curse?
The resource curse (also known as the paradox of plenty) refers to the failure of many resource-rich countries to benefit fully from their natural resource wealth, and for governments in these countries to respond effectively to public welfare needs.
Why are people considered a resource?
Answer: People are considered a resource because with their demands and capabilities they can create new resources. Nature’s bounty becomes important only when people find it and make it useful for them. Hence, human resource is also considered an important and potential resource for the society.
How many types of resources are there?
Let us take a look at the two broad types of resources – natural resources and man-made resources.
What does it mean to be a resource nationalist?
“If there was any armed aggression against Venezuela from Colombian territory or from anywhere else, promoted by the Yankee empire, we would suspend oil shipments to the United States, even if we have to eat stones here.” Resource nationalism describes a government’s effort to gain greater control or value from its natural resources.
What are the risks of a resource nationalism?
Resource nationalism may also result in higher and more volatile commodity prices. Higher political risks associated with conflicts of this sort will also compound uncertainty in global resource markets.
When does resource nationalism occur in a cycle?
These episodes tend to occur in cycles induced by structural forces, in particular high resource prices and the end of successful investment cycles, increasing production and reserves. State-owned enterprises tend to play a dominant role in the region, which is magnified during the resource nationalism episodes.
What are the effects of resource nationalism in Latin America?
State-owned enterprises tend to play a dominant role in the region, which is magnified during the resource nationalism episodes. During such episodes, governments increase taxes and renege on contracts with private investors.