Turkey lucky without natural resources, says Stiglitz Anadolu Agency
▻http://www.aa.com.tr/en/turkey/375387--turkey-lucky-without-natural-resources-says-stiglitz
Nobel laureate in economics, Joseph Stiglitz said Turkey could be considered lucky in not having an abundance of natural resources, while addressing officials and economists in Istanbul on Monday.
“Turkey perhaps has good fortune of not having many natural resources, unlike many countries in Africa,” said Stiglitz during his keynote address at the UN Development Program conference on “The Role of Private Sector in Poverty Reduction and Social Inclusion.”
He argued that an abundance of natural resources created high revenues but low employment. This, he explained, harms the social equity needed for healthy growth.
He added that an abundance of natural resources generally caused lack of competitiveness for exports because of the high national currency