English, Article edition: Why do some resource-abundant countries succeed while others do not? Ragnar Torvik

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  • article
Language
  • English

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Title
  • Why do some resource-abundant countries succeed while others do not?
Author
  • Ragnar Torvik
Physical Description
  • article
Notes
  • On average, resource-abundant countries have experienced lower growth over the last four decades than their resource-poor counterparts. But the most interesting aspect of the paradox of plenty is not the average effect of natural resources, but its variation. For every Nigeria or Venezuela there is a Norway or a Botswana. Why do natural resources induce prosperity in some countries but stagnation in others? This paper gives an overview of the dimensions along which resource-abundant winners and losers differ. In light of this, it then discusses different theory models of the resource curse, with a particular emphasis on recent developments in political economy. Copyright 2009, Oxford University Press.
  • RePEc:oup:oxford:v:25:y:2009:i:2:p:241-256
Language
  • English
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