AFRICAN TRANSITIONS AND THE RESOURCE CURSE: AN ALTERNATIVE PERSPECTIVE

Thomas C. Heller

Economic Affairs, 2006, vol. 26, issue 4, 24-33

Abstract: Despite periodic rises in commodity prices, resource‐rich African countries have been characterised by state failure and low long‐term economic growth. Competing explanations for the resource curse are examined with a particular focus on political institutions. The effective privatisation of states is considered within an alternative theoretical framework of non‐democratic governance and non‐market economics. Given the nature of many African governments, international initiatives to encourage the development of effective markets and democracy may be inadequate to prevent increased resource rents from consolidating existing elites and their patronage regimes.

Date: 2006
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