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The resource curse
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ISBN: 1788211685 1911116509 9781911116509 1911116487 1911116495 9781911116486 9781911116493 Year: 2023 Publisher: Newcastle upon Tyne : Agenda Publishing,

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Abstract

'The Resource Curse' refers to the long-established notion central in development economics that countries rich in natural resources, particularly minerals and fuels, perform less well economically than countries with fewer natural resources. In other words, resources are an economic curse rather than a blessing. This short primer explores the complexities of this idea and the debates that surround it, in particular under what conditions the resource curse might operate, if not universal. Discussion ranges over the nature of resource booms, the benefits and costs of export-led growth, the problems of deindustrialisation and manufacturing base erosion, rent-seeking behaviour and corruption and the empirical evidence of the effects of natural resource dependence on growth.

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