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Paul Collier: Africa profiting from commodity boom, but good governance key to long-term success

Posted on July 04, 2008

Sub-Saharan Africa is benefiting from the massive commodity boom that has come to dominate world markets. The continent is profiting from its immense wealth in oil, minerals, agricultural products, wood and other commodities. But the past has shown that these booms are shortlived and most often don't benefit the poor - 'the bottom billion' - at all. The teeth of the 'natural resource curse' often bite after a few years of high commodity prices, and devour all the gains that were made earlier.An age old question is how Africa can escape this curse. How can we, the highly developed world, help t...

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