The resource curse: which institutions matter?
نویسندگان
چکیده
منابع مشابه
Institutions Matter, but Which Ones?
In the last two decades institutional economics of development has been enriched by historical and, more recently, quantitative analysis of the effects of the quality of institutions on the pace and pattern of economic development. Following the leadership of Douglass North, this literature has shown how important secure property rights are in encouraging investment and innovations, allowing fo...
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A surprising feature of resource-rich economies is slow growth. It is often argued that natural-resource production impedes development by creating market or institutional failures. This paper establishes an alternative explanation a slow-growing resource sector. A declining resource sector is disproportionally re ected in resource-dependent countries but appears to have little a ect on the res...
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A large body of scholarship finds a negative relationship between oil abundance and economic growth. The existing empirical evidence on the oil curse, however, does not account for variations in the ownership of oil. This article investigates whether the effect of oil abundance on growth varies with ownership structures. It also investigates whether institutional quality influences the effect o...
متن کاملThe Natural Resource Curse: A Survey
It is striking how often countries with oil or other natural resource wealth have failed to grow more rapidly than those without. This is the phenomenon known as the Natural Resource Curse. The principle is not confined to individual anecdotes or case studies, but has been borne out in econometric tests of the determinants of economic performance across a comprehensive sample of countries. The ...
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Genuine saving is a measure of net investment in produced, natural and human capital. It is a necessary condition for weak sustainable development that genuine saving not be persistently negative. However, according to data provided by the World Bank, resource-rich countries are systematically failing to meet this condition. Alongside the well-known resource curse on economic growth, resource a...
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ژورنال
عنوان ژورنال: Applied Economics Letters
سال: 2009
ISSN: 1350-4851,1466-4291
DOI: 10.1080/17446540802167339