The Resource Curse - A Natural Experiment
AbstractThis paper compares Mauritius and Trinidad and Tobago which have a very similar climate, history, institutional framework, ethnic composition, size, etc., but are different in the natural resources they possess. Trinidad and Tobago has achieved a higher per capita GDP based on its petrodollars, but Mauritius has achieved a more robust and stable growth path and a diversified economy based on an export-oriented economic strategy. Trinidad and Tobago is highly dependent on the world market prices for oil and gas and engages in a smaller variety of economic activities, giving it a worse perspective for its future economic development. It appears that this curse is mainly working through Dutch disease effects.
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Bibliographic InfoPaper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 2011-028.
Date of creation: 2011
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Web page: http://center.uvt.nl
Resource Curse; Dutch Disease; Natural Experiment; Mauritius; Trinidad and Tobago;
Find related papers by JEL classification:
- N56 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Latin America; Caribbean
- N57 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Africa; Oceania
- Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-04-30 (All new papers)
- NEP-CWA-2011-04-30 (Central & Western Asia)
- NEP-ENE-2011-04-30 (Energy Economics)
- NEP-ENV-2011-04-30 (Environmental Economics)
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