Development Based on Commodity Revenues?
Sergei Guriev (),
Alexander Plekhanov and
Konstantin Sonin ()
Sciences Po publications from Sciences Po
Commodity resources offer significant opportunities for development. In the long run, however, the performance of commodity - rich countries tends to fall short of expectations, as commodity rents induce macroeconomic volatility and undermine incentives to improve institutions. The resource - rich countries have embraced a range of diversification strategies to avoid the “resource trap”, to varying degrees and with varying success. Improving institutions remains the key challenge.
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