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Addressing the natural resource curse: An illustration from Nigeria

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Author Info
Xavier Sala-i-Martin () (Universitat Pompeu Fabra - Faculty of Economic and Business Sciences)
Arvind Subramanian () (International Monetary Fund (IMF))

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Abstract

Some natural resourcesil and minerals in particularxert a negative and nonlinear impact on growth via their deleterious impact on institutional quality. We show this result to be very robust. The Nigerian experience provides telling confirmation of this aspect of natural resources. Waste and corruption from oil rather than Dutch disease has been responsible for its poor long run economic performance. We propose a solution for addressing this resource curse which involves directly distributing the oil revenues to the public. Even with all the difficulties of corruption and inefficiency that will no doubt plague its actual implementation, our proposal will, at the least, be vastly superior to the status quo. At best, however, it could fundamentally improve the quality of public institutions and, as a result, transform economics and politics in Nigeria.

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File URL: http://www.econ.columbia.edu/RePEc/pdf/DP0203-15.pdf
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Paper provided by Columbia University, Department of Economics in its series Discussion Papers with number 0203-15.

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Length: 48 pages
Date of creation: 2003
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Handle: RePEc:clu:wpaper:0203-15

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Stanley L. Engerman & Kenneth L. Sokoloff, 1994. "Factor Endowments: Institutions, and Differential Paths of Growth Among New World Economies: A View from Economic Historians of the United States," NBER Historical Working Papers 0066, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  2. Sachs, J-D & Warner, A-M, 1995. "Natural Resource Abundance and Economic Growth," Papers 517a, Harvard - Institute for International Development.
  3. Dani Rodrik & Francesco Trebbi & Arvind Subramanian, 2002. "Institutions Rule: The Primacy of Institutions over Integration and Geography in Economic Development," IMF Working Papers 02/189, International Monetary Fund. [Downloadable!]
  4. Carlos Leite & Jens Weidmann, 1999. "Does Mother Nature Corrupt - Natural Resources, Corruption, and Economic Growth," IMF Working Papers 99/85, International Monetary Fund.
  5. Jeffrey D. Sachs & Andrew M. Warner, 1995. "Natural Resource Abundance and Economic Growth," NBER Working Papers 5398, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  6. Ricardo Hausmann & Roberto Rigobon, 2003. "An Alternative Interpretation of the 'Resource Curse': Theory and Policy Implications," NBER Working Papers 9424, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  7. Paul Collier & Jan Gunning, 1996. "Policy Towards Commodity Shocks in Developing Countries," IMF Working Papers 96/84, International Monetary Fund.
  8. Lane, Philip R. & Tornell, Aaron, 1998. "Voracity and Growth," CEPR Discussion Papers 2001, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  9. Mauro, Paolo, 1995. "Corruption and Growth," The Quarterly Journal of Economics, MIT Press, vol. 110(3), pages 681-712, August. [Downloadable!] (restricted)
  10. Ehtisham Ahmad & Raju Singh, 2003. "Political Economy of Oil-Revenue Sharing in a Developing Country: Illustrations from Nigeria," IMF Working Papers 03/16, International Monetary Fund. [Downloadable!]
  11. Jonathan Isham & Michael Woolcock & Lant Pritchett & Gwen Busby, 2003. "The Varieties of Resource Experience: How Natural Resource Export Structures Affect the Political Economy of Economic Growth," Middlebury College Working Paper Series 0308, Middlebury College, Department of Economics. [Downloadable!]
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  12. Claudio Bravo-Ortega & Jose De Gregorio, . "The Relative Richness of the Poor? Natural Resources, Human Capital and Economic Growth," Working Papers Central Bank of Chile 139, Central Bank of Chile. [Downloadable!]
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  13. Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation," American Economic Review, American Economic Association, vol. 91(5), pages 1369-1401, December. [Downloadable!] (restricted)
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  14. William Easterly & Ross Levine, 2002. "Tropics, Germs, and Crops: How Endowments Influence Economic Development," NBER Working Papers 9106, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  15. Gernot Doppelhofer & Ronald I. Miller & Xavier Sala-i-Martin, 2000. "Determinants of Long-Term Growth: A Bayesian Averaging of Classical Estimates (BACE) Approach," NBER Working Papers 7750, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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