The Naturel Resourse Curse: A Socioeconomic and Sociopolitical Analysis of Causes and Symptoms Combined with Macroeconomic Solution Suggestions for International Development Policy and Practice

Konrad Gunesch
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Konrad Gunesch: American University in the Emirates, College of Media and Mass Communication, Dubai, United Arab Emirates

Review of Socio - Economic Perspectives, 2018, vol. 3, issue 1, 73-95

Abstract: The natural resource curse has attracted demands for more research in recent literature. This research firstly frames that literature conceptually by giving an exact overview of the development of the terminology and symptoms of the resource curse. It then examines explanatory models and theories for the resource curse for their scientific thoroughness and convincingness, before analyzing several of the sociopolitical and macroeconomic challenges posed by it, and then evaluating a range of suggested solution models for their socioeconomic, sociopolitical and macroeconomic viability, with a macroeconomic core argument. The first main contribution of this research lies on the conceptual level, namely a unique synthesis of explanation models, encountered challenges and proposed solutions that does not yet exist in this complex yet concise way in the literature. The second main contribution, on the methodological level, fits the complexity of the natural resource curse and respects the afflicted people and countries, by combining a multidisciplinary and qualitative approach with a socioeconomic and sociopolitical scope and a macroeconomic investigation. The qualitative approach integrates literature requests for interdisciplinary, qualitative and collaborative methodologies. Thus oriented, we will evaluate national and international suggested pathways, practices and policies for todays globalizing world from macroeconomic perspectives, specially focusing on combined international political and national macroeconomic solution models and policy measures, such as development aid and nonaggressive international intervention, which stand the best chances of being welcomed internally in the country, individually by its leaders, institutionally by its governments, and internationally by the world community. Finally, this research synthesizes eleven solution suggestions, namely four sociopolitical and socioeconomic ones and seven macroeconomic ones, across social and economic sciences and disciplines. Thus its overall contribution to development studies and macroeconomics lies in offering conceptually solid and practically viable socioeconomic and macroeconomic options, to benefit both developed and developing nations and world regions

Keywords: Resource Curse; Dutch Disease; Resource Trap; Macroeconomic Development; Development Economics (search for similar items in EconPapers)
JEL-codes: E61 E71 F42 F43 F62 O11 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:aly:journl:201821

DOI: 10.19275/RSEP044

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