The ‘Resource Curse’: Theory and Evidence

Di John, Jonathan (2010) The ‘Resource Curse’: Theory and Evidence. Elcano Newsletter (72). 9 p.. ISSN 1698-5184

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Abstract

Mineral and fuel abundance does not determine either the political or economic trajectory of less developed countries. This paper undertakes a critical survey of the ‘resource curse’ –the idea that mineral and fuel abundance generates poor economic performance in less developed countries–. It examines the proposition that mineral and fuel abundance generates growth-restricting forms of state intervention and extraordinarily large degrees of rent-seeking and corruption, which are generally argued to be negative in terms of the economic growth outcomes they generate. The analysis surveys the Dutch Disease, rentier state, and rent-seeking versions of the resource curse and finds they have significant shortcomings in terms of both theory and evidence. It also discusses particular growth strategies that have been effective in producing long-run economic growth in mineral- and fuel-abundant developing countries.

Item Type: Article
Additional Information: Estudio sólo disponible en inglés
Uncontrolled Keywords: África Subsahariana
Subjects: ENVIRONMENT; NATURAL RESOURCES > NATURAL RESOURCES > NATURAL RESOURCES.
ENVIRONMENT; NATURAL RESOURCES > NATURAL RESOURCES > RESOURCES EXPLOITATION.
ECONOMIC POLICY; SOCIAL POLICY; PLANNING > ECONOMIC POLICY; PLANNING > GROWTH POLICY
ECONOMIC POLICY; SOCIAL POLICY; PLANNING > ECONOMIC POLICY; PLANNING > ECONOMIC POLICY.REGIONAL POLICY
ECONOMIC POLICY; SOCIAL POLICY; PLANNING > ECONOMIC POLICY; PLANNING > ECONOMIC AND SOCIAL DEVELOPMENT
ECONOMIC CONDITIONS; ECONOMIC RESEARCH; ECONOMIC SYSTEMS > ECONOMIC CONDITIONS > ECONOMIC CONFLICTS
ECONOMIC CONDITIONS; ECONOMIC RESEARCH; ECONOMIC SYSTEMS > ECONOMIC CONDITIONS > LEAST DEVELOPED COUNTRIES
ECONOMIC CONDITIONS; ECONOMIC RESEARCH; ECONOMIC SYSTEMS > ECONOMIC CONDITIONS > QUALITY OF GROWTH
Divisions: Real Instituto Elcano, RIE
Depositing User: Jorge Horcas Pulido
Date Deposited: 01 Apr 2012 13:41
Last Modified: 01 Apr 2012 13:41
URI: http://biblioteca.ribei.org/id/eprint/1973

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