The 'Resource Curse': Theory and Evidence

Author(s): Jonathan Di John
Publisher(s): Elcano Royal Institute of International and Strategic Studies, Madrid, Spain
Date of publication: 15 Dec 2010
Volume number: 2010
Issue number: 172
Pages: 9
Series: Elcano Royal Institute Analyses

Description: This paper undertakes a critical survey of the 'resource curse' and examines the proposition that mineral and fuel abundance generates growth-restricting forms of state intervention and extraordinarily large degrees of rent-seeking and corruption. 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.

General note: © 2010 Elcano Royal Institute of International and Strategic Studies

Download:

• English - Download the full-text document (111 KB)