The Guardian State and its Economic Development Model

Laura El-Katiri

Journal of Development Studies, 2014, vol. 50, issue 1, 22-34

Abstract: This article outlines the core features of a particular, resource-led development model, the oil-rich guardian state. Its key distinguishing feature from other resource-rich economies consists in its strong economic welfare objective function, which in line with its exceptional oil wealth renders its population amongst the wealthiest nations in the world. However, the guardian state also illustrates some of the negative externalities associated with resource wealth, namely the policy dilemma of directing seemingly abundant financial resources into the economy. The state faces a high propensity for waste, and for the systemic dilution of market incentives, thereby rendering sustained and self-generating economic growth more difficult than in less resource-rich economies.

Date: 2014
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DOI: 10.1080/00220388.2013.849340

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