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Published online by Cambridge University Press: 10 May 2017
Natural resources play a role in economic development, but the exact nature and importance of that role is a matter of dispute. The spectacular development of natural resource poor Japan compared with a, say, relatively well endowed Argentina certainly indicates that the lack of resources need not undully hinder development while their abundance does not insure rapid growth. Much of the difference lies, undoubtedly, with the human and institutional factors.