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Resource Curse and the Dutch Disease

In: Oil and Gas in Trinidad and Tobago

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  • Roger Hosein

    (The University of the West Indies)

Abstract

This chapter focuses on the resource curse with a specific focus on petroleum products. The theoretical outlines of the Dutch Disease and its relationship to premature deindustrialization and sectoral trade performance is presented. The clear indication from the model is that whilst the boom can leave the Booming Tradeable sector with a marginally enhanced number of workers, the Non Booming Tradeable sector gets both a direct and an indirect bout of deindustrialization. Collectively this double blow, starves the manufacturing sector of some of its labour and at the same time the Non Tradeable sector’s employment and output grows. The chapter also provided some basic evidence for T&T, showing that as real oil prices increase, the real effective exchange rate appreciates.

Suggested Citation

  • Roger Hosein, 2021. "Resource Curse and the Dutch Disease," Springer Books, in: Oil and Gas in Trinidad and Tobago, chapter 0, pages 87-114, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-77669-5_5
    DOI: 10.1007/978-3-030-77669-5_5
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