“Almost every country has some kind of natural resources.”
Precisely. Natural resources constitute just one of the four requisite factors for a successful economy. The others are labor, capital and a business class.
Like most everything else … it depends.
Japan, Singapore and Hong Kong have NO natural resources, but they are hugely powerful economic engines. Very very prosperous.
So, it depends.
Worst case, a country can use natural resources to boot strap its economic growth.
In addition, to natural resources, labor, capital and a business class, there is also the need for respect for the law and a government/constitution/legal tradition that is friendly toward business and economic growth.
Countries that have the four things you mentioned (natural resources, labor, capital, business class) but lack a “user friendly” legal tradition will founder. Take a look at the Communist countries. They have had all four things, but with a totalitarian economic and political and legal “system” the Communist countries were economically stagnant.
With the right political/government/constitution/legal tradition, a country lacking all of those four items can do still do well.
… Because the right political/government/constitution/legal tradition will unlock the creativity of its citizens and allow them to achieve their economic potential.
By the way, this is translated into low taxes and low regulation and minimal corruption … (minimal “dash”, as they say) …
So if you want to strangle economic growth, just add higher taxes and more bureaucracy.
AND, the positive beneficial effect of this combination of the right political/government/constitution/legal tradition has been demonstrated over and over.