Natural Resource Abundance: Is it a Blessing or is it a Curse

Boris Petkov ()
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Boris Petkov: University of Birmingham

Journal of Economic Development, 2018, vol. 43, issue 3, 25-56

Abstract: The entire subject of what creates a curse rather than a blessing and how to bring about the second and avoid the earlier is a particularly complex area for discussion. It is conspicuous that countries with natural resource wealth have experienced inferior economic growth in comparison to those devoid of such gifts. We advance the following propositions: i) there is evidence that natural resource abundance is associated with negative development outcomes; ii) current explanations of the resource curse do not sufficiently account for the role of the socio-economic background; iii) counteractive policy measures in alleviating/ preventing the resource curse are feasible.

Keywords: Economic Growth; Resource Curse; Prebisch-Singer Thesis (PST); Salter-Swan Model; Dutch Disease (search for similar items in EconPapers)
JEL-codes: C22 F31 O11 O13 O43 P17 Q32 Q43 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:jed:journl:v:43:y:2018:i:3:p:25-56

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