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The Institutions Curse

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  • Menaldo,Victor

Abstract

The 'resource curse' is the view that countries with extensive natural resources tend to suffer from a host of undesirable outcomes, including the weakening of state capacity, authoritarianism, fewer public goods, war, and economic stagnation. This book debunks this view, arguing that there is an 'institutions curse' rather than a resource curse. Legacies endemic to the developing world have impelled many countries to develop natural resources as a default sector in lieu of cultivating modern and diversified economies, and bad institutions have also condemned nations to suffer from ills unduly attributed to minerals and oil. Victor Menaldo also argues that natural resources can actually play an integral role in stimulating state capacity, capitalism, industrialization, and democracy, even if resources are themselves often a symptom of underdevelopment. Despite being cursed by their institutions, weak states are blessed by their resources: greater oil means more development, both historically and across countries today.

Suggested Citation

  • Menaldo,Victor, 2016. "The Institutions Curse," Cambridge Books, Cambridge University Press, number 9781107138605.
    • Handle: RePEc:cup:cbooks:9781107138605
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    Citations

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    Cited by:

    1. Mehrdad Vahabi, 2017. "A critical survey of the resource curse literature through the appropriability lens," CEPN Working Papers hal-01583559, HAL.
    2. Michael Denly & Michael G. Findley & Joelean Hall & Andrew Stravers & James Igoe Walsh, 2022. "Do Natural Resources Really Cause Civil Conflict? Evidence from the New Global Resources Dataset," Journal of Conflict Resolution, Peace Science Society (International), vol. 66(3), pages 387-412, April.
    3. Gochberg, Will & Menaldo, Victor, 2022. "To rent or not to rent? Mechanics, causes and consequences of Ricardian and Quasi-rents in the oil industry," Resources Policy, Elsevier, vol. 78(C).
    4. Mahdi FAWAZ, 2020. "Ressources naturelles et guerres civiles au Moyen-Orient," Bordeaux Economics Working Papers 2020-09, Bordeaux School of Economics (BSE).
    5. Bergougui, Brahim & Murshed, Syed Mansoob, 2020. "New evidence on the oil-democracy nexus utilising the Varieties of Democracy data," Resources Policy, Elsevier, vol. 69(C).
    6. Frolov, Daniil, 2019. "From institutions to extitutions to the post-institutional theory of institutional anomalies," MPRA Paper 95960, University Library of Munich, Germany, revised 10 Sep 2019.
    7. Ahmed, Faisal Z. & Schwab, Daniel & Werker, Eric, 2021. "The political transfer problem: How cross-border financial windfalls affect democracy and civil war," Journal of Comparative Economics, Elsevier, vol. 49(2), pages 313-339.
    8. Szoke-Burke, Sam & Werker, Eric, 2021. "Benefit sharing, power, and the performance of multi-stakeholder institutions at Ghana's Ahafo mine," Resources Policy, Elsevier, vol. 71(C).
    9. Mehrdad Vahabi, 2017. "A critical survey of the resource curse literature through the appropriability lens," Working Papers hal-01583559, HAL.
    10. Matata Ponyo Mapon & Jean-Paul K. Tsasa, 2019. "The artefact of the Natural Resources Curse," Papers 1911.09681, arXiv.org.
    11. Melani Cammett & Ishac Diwan & Andrew Leber, 2019. "Is Oil Wealth Good for Private Sector Development?," Working Papers 1299, Economic Research Forum, revised 2019.
    12. Awoa, Paul Awoa & Efogo, Françoise Okah & Ondoa, Henri Atangana, 2023. "Oil dependence and entrepreneurship: Non-linear evidence," Economic Systems, Elsevier, vol. 47(1).
    13. Evan Wigton-Jones, 2020. "Legacies of inequality: the case of Brazil," Journal of Economic Growth, Springer, vol. 25(4), pages 455-501, December.
    14. Mehrdad Vahabi, 2018. "The resource curse literature as seen through the appropriability lens: a critical survey," Public Choice, Springer, vol. 175(3), pages 393-428, June.
    15. Medase, S. Kehinde & Ahali, Aaron Yaw & Belitski, Maksim, 2023. "Natural resources, quality of institutions and entrepreneurship activity," Resources Policy, Elsevier, vol. 83(C).
    16. Mehrdad Vahabi, 2017. "Coercive state, resisting society, political and economic development in Iran," CEPN Working Papers hal-01583595, HAL.
    17. Harris, Adam S. & Sigman, Rachel & Meyer-Sahling, Jan-Hinrik & Mikkelsen, Kim Sass & Schuster, Christian, 2020. "Oiling the bureaucracy? political spending, bureaucrats and the resource curse," World Development, Elsevier, vol. 127(C).
    18. Awoa Awoa, Paul & Oyono, Jean Cedric & Ngah Atangana, Bénédicte & Okere Atanga, Donald & Zeh, Inès Perolde, 2022. "Natural resource and entrepreneurship: Economic freedom matters," Resources Policy, Elsevier, vol. 79(C).
    19. Mehrdad Vahabi, 2017. "Coercive state, resisting society, political and economic development in Iran," Working Papers hal-01583595, HAL.
    20. Frolov, Daniil, 2018. "От Институтов К Экститутам И Далее - К Теории Институциональных Аномалий [From Institutions to Extitutions to the Theory of Institutional Anomalies]," MPRA Paper 90286, University Library of Munich, Germany.

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