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The Natural Resource Curse: Is It Really a Curse?

Author

Listed:
  • Barrak Ghanim Algharabali

    (College of Business Administration, Kuwait University, Kuwait.)

  • Saud Asaad Al-Thaqeb

    (College of Business Administration, Kuwait University, Kuwait.)

Abstract

The Natural Resource Curse literature started with a clear consensus that dependence on natural resources have clear direct negative effects on economic growth and levels of democracy. However, the literature today reflects that the debate is still going where several papers reflects evidence that is against the consensus of the Natural Resource Curse hypothesis, which provides many open avenues for further research. This paper surveys the literature of the natural resource curse and identifies the main arguments and findings of both streams (curse stream and blessing stream). The main point that this paper highlights is that the literature is still not clear 100% whether the natural resource is a curse or a blessing. The econometric technique and the way how you define natural resources could lead to different or opposite results.

Suggested Citation

  • Barrak Ghanim Algharabali & Saud Asaad Al-Thaqeb, 2023. "The Natural Resource Curse: Is It Really a Curse?," International Journal of Energy Economics and Policy, Econjournals, vol. 13(4), pages 237-245, July.
    • Handle: RePEc:eco:journ2:2023-04-26
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    References listed on IDEAS

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    More about this item

    Keywords

    Natural Resource Curse; Natural Resource Dependence; Oil Curse; Economic Growth; Democracy;
    All these keywords.

    JEL classification:

    • N50 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - General, International, or Comparative
    • H6 - Public Economics - - National Budget, Deficit, and Debt
    • P2 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies

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