Chapter 9 in the Changing Wealth of Nations 2021 report that explores countries' nonrenewable natural wealth (oil, gas, coal and minerals).
This chapter describes the economic importance of nonrenewable natural wealth in all countries using the data from www.worldbank.org/cwon and discusses the main risks that countries face when they have abundance of these nonrenewable natural resources.
Some of the main messages of this chapter include: nonrenewable assets are important for the economy, however, overreliance on them could be risky. This chapter recommends government officials and policymakers to acknowledge these risks and diversify their economies to avoid shocks that can harm their economies.