A petrodollar saved

摘要

Countries flush with oil and ore should grow faster than those that are barren. Puzzlingly they often do not. Natural-resource income is spent rashly or invested at the expense of other sectors of the economy. Governments binge on spending during booms and cut back harshly during busts. These policies exacerbate the economic cycle, and contribute to the paradox of the resource curse.rnDuring the recent commodities' boom, resource-rich countries have sought to escape the curse by pouring natural-resource income into sovereign-wealth funds (s wfs). By the end of 2007 the funds were worth up to $2.5 trillion.