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A survey of literature on the resource curse: critical analysis of the main explanations, empirical tests and resource proxies

Listed author(s):
  • Nuno Torres

    ()

    (CEF.UP and FEP, Universidade do Porto)

  • Óscar Afonso

    ()

    (CEF.UP and FEP, Universidade do Porto)

  • Isabel Soares

    ()

    (CEF.UP and FEP, Universidade do Porto)

This paper presents a survey of literature on the `resource curse', a puzzling empirical result that associates natural resource riches with lower economic growth. We show the main theories that attempt to explain the curse ? ranging from the structuralist theses of the 1950s to recent and more consensual institutional causes ?, and present a critical review of results in view of theory, estimation procedures and used resource proxies.

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Paper provided by Universidade do Porto, Faculdade de Economia do Porto in its series CEF.UP Working Papers with number 1302.

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Length: 23 pages
Date of creation: Feb 2013
Handle: RePEc:por:cetedp:1302
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