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Periodical article | Leiden University catalogue | WorldCat |
Title: | Liberia's rent economy: the iron-ore sector |
Author: | Kappel, Robert |
Year: | 1986 |
Periodical: | Liberia-Forum |
Volume: | 2 |
Issue: | 3 |
Pages: | 79-86 |
Language: | English |
Geographic term: | Liberia |
Subjects: | economic development iron-ore mining |
Abstract: | Discussion of developments on the international iron ore market and their effects on Liberia's economic growth. The steel crisis and the race for ever cheaper iron ore throughout the world has turned Liberia into the steel producers' toy: according to the Second National Development Plan, multinational companies control 78 percent of the country's iron ore production. The rapid growth of GNP during the sixties and seventies was accompanied by the depletion of the nonrenewable resource iron ore. Because of this process of 'perverse growth' Liberia's growth pattern, which is dependent upon increased exports of iron ore, is now approaching a predictable limit. The IMF and the aid provided by the USA and the EEC countries irresponsibly support this perverse growth and undermine any possibilities of development. Bibliogr., notes. |