Mozambique what (else) could go wrong?
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As often as not, sudden spurts of economic growth in developing countries prove to be unsustainable. The culprit may be one of the usual suspects — adverse external shocks like hurricanes, imprudent fiscal policy that triggers inflation and capital flight, political unrest, or the economist’s favorite: “the resource curse” associated with the windfall profits of natural wealth. Rarely, however, has the mere expectation of future wealth short-circuited balanced growth, as has happened following the discovery of natural gas off the coast of Mozambique.
Thomas Trutschel/Photothek via Getty ImagesThe article of record as published may be found at http://www.milkenreview.org/articles/mozambique