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Why do some resource-abundant countries succeed while others do not?

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  • Ragnar Torvik

Abstract

On average, resource-abundant countries have experienced lower growth over the last four decades than their resource-poor counterparts. But the most interesting aspect of the paradox of plenty is not the average effect of natural resources, but its variation. For every Nigeria or Venezuela there is a Norway or a Botswana. Why do natural resources induce prosperity in some countries but stagnation in others? This paper gives an overview of the dimensions along which resource-abundant winners and losers differ. In light of this, it then discusses different theory models of the resource curse, with a particular emphasis on recent developments in political economy. Copyright 2009, Oxford University Press.

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File URL: http://hdl.handle.net/10.1093/oxrep/grp015
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Bibliographic Info

Article provided by Oxford University Press in its journal Oxford Review of Economic Policy.

Volume (Year): 25 (2009)
Issue (Month): 2 (Summer)
Pages: 241-256

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Handle: RePEc:oup:oxford:v:25:y:2009:i:2:p:241-256

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Web page: http://oxrep.oupjournals.org/

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Cited by:
  1. Mohammad Reza Farzanegan, 2012. "Resource Wealth and Entrepreneurship: A Blessing or a Curse?," MAGKS Papers on Economics 201224, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
  2. Boschini, Anne & Pettersson, Jan & Roine, Jesper, 2012. "The Resource Curse and its Potential Reversal," Working Paper Series 2012:17, Uppsala University, Department of Economics.
  3. Hvid, Anna Kirstine & Henningsen, Geraldine Adrienne, 2014. "A new scramble for land or an unprecedented opportunity for the rural poor? Distributional consequences of increasing land rents in developing countries," MPRA Paper 52919, University Library of Munich, Germany.
  4. Mohammad Reza Farzanegan, 2014. "Can Oil-Rich Countries Encourage Entrepreneurship? ‘Yes’, ‘No’ but not ‘Perhaps’," MAGKS Papers on Economics 201406, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
  5. Andersen, Jørgen Juel, 2011. "The form of government and fiscal dynamics," European Journal of Political Economy, Elsevier, vol. 27(2), pages 297-310, June.
  6. Mathieu Couttenier & Pauline Grosjean & Marc Sangnier, 2014. "The Wild West is Wild: The Homicide Resource Curse," Discussion Papers 2014-12, School of Economics, The University of New South Wales.
  7. Syed Mansoob Murshed, 2007. "What Turns a Blessing into a Curse? The Political Economy of Natural Resource Wealth (Invited Lecture)," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 46(4), pages 351-377.

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