Abstract
The purpose of this article is to identify and interpret the potential and risks of a more concentrated production structure in natural resources-intensive industries. In particular, it attempts to assess if the current conditions of the global economy have created opportunities for a development strategy based on natural resources in Latin America. The global presence of China, the ICT revolution and globalization have consolidated a framework of change that can redefine the possibilities of a productive structure based on natural resources. Latin American countries must be prepared to avoid the pitfalls that affected commodities-producing countries in the past. A central point of development based on natural resources is the challenge to institutions and especially to the State.
Keywords:
Economic development and natural resources; Curse of natural resources; Natural resources and Latin America; Economic development strategies