Resource curse

Timothy Fitzgerald

Chapter 102 in Elgar Encyclopedia of Energy Economics, 2025, pp 401-403 from Edward Elgar Publishing

Abstract: The resource curse hypothesis posits that resource-dependent economies grow more slowly than others. The resource curse has been asserted at a variety of spatial scales, from local and regional economies to countries and continents. Two main causes – one structuralist and the other institutional – are identified. Structuralist approaches include Dutch disease, commodity cycles, and human capital formation. Institutional approaches include opportunistic raiding and political rent-seeking. Empirical debates revolve around oil and gas resources and the growth prospects of petrostates and the dispute over the appropriate empirical strategy to identify theorized effects. While structuralist approaches typically find support for resource curse hypotheses, institutional empirical work focuses relatively more on successful resource extraction and drawing inference for the design of successful structures.

Keywords: Resource Curse; Natural Resources; Dutch Disease; Institutions (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035310364
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