A Review on the Resource Curse

Abstract

Natural wealth is generally considered as one of the fundamental sources of economic growth. However, a vast majority of the related empirical research verified that resource-rich countries tend to underperform their resource-deficient counterparts. This paradox is known as the resource curse. During the past two decades more sophisticated analyses have revealed that the presence of the curse is conditional and its growth effects are non-monotonic. Recent efforts concentrate on understanding the transmission channels and identifying the decisive conditions on the fulfillment of the curse. This article gives an overview on the progress and depicts the current state of the research.

Improving Relations between a State and a Business Enterprise in the Context of Counteracting Adverse Effects of the Resource Curse

“…With the help of empirical research, attempts were made to justify the negative relationship between the abundance of resources and the growth in authoritarianism, the retreat of democracy, and the increase in corruption and rent seeking. In this period, the main cause of the resource curse was identified as the inadequate economic and social policy of the exporter states [40].…”

Diverzifikációs nehézségek a nyersanyagban gazdag országokban : Botswana esete

“…A vonatkozó empirikus eredmények elsöprő többsége igazolja, hogy a nyersanyagátok kibontakozása a politikai-gazdasági intézményrendszer minőségének függvénye. A jó minőségű intézmények hatékonyan, inkluzívan, nyitottan és átláthatóan, valamint demokratikus kontroll alatt működnek, elősegítik a magántulajdon védelmét és a szerződések teljesítését, ezáltal biztosítva a nyersanyagbevételek jövőorientált, társadalmilag optimális felhasználását (Szalai, 2018). Ilyen körülmények között, miként azt Kanada vagy Norvégia példája is illusztrálja, a nyersanyagbőség inkább áldásként hat a gazdasági fejlődésre.…”

“…Emiatt visszaszorul a döntéshozók elszámoltatása, háttérbe szorul a szociá lis és humán tőke, a jó kormányzás, a transzparencia, valamint a demokratikus, átlátható döntéshozatal. Torzulnak továbbá a gazdasági ösztönzők, és elburjánzik a korrupció, ami végül gazdaság- és kereskedelempolitikai kudarcokhoz vezet (Szalai, 2018). Ráadásul a fejlődő országok intézményrendszerét további nyomás alá helyezi a tapasztalt, jogi háttérrel és szakértelemmel, hatalmas anyagi erőforrásokkal bíró nemzetközi kitermelő cégekkel zajló egyeztetés (Acemoglu & Robinson, 2013).…”

Governance for sustainability in the extractive industry sector: Addressing the Resource Curse through Global Standard-Setting - Experiences from Indonesia

“…Most research on the resource curse focuses on economic and poli cal dimensions that cause or are affected by this phenomenon (Ross, 1999). Studies have also examined the evolving aspects of the curse within a broader context (Ross, 2001;Papyrakis, 2017), the rela onship between varying levels of the resource curse and scholars' exper se (Gilberthorpe & Papyrakis, 2015), the causal mechanisms leading to slow economic growth (Badeeb et al, 2017), and the u liza on of quan ta ve analysis to substan ate the existence of the resource curse phenomenon (Frankel, 2011;Van der Ploeg & Poelheke, 2017;Szalai, 2018). Despite the large and s ll growing body of literature on the resource curse spanning several decades, there remains a dearth of research inves ga ng the influence of discourses around (the three dimensions of) sustainability (Mensah & Casadevall, 2019) on extrac ve industry governance in addressing the resource curse.…”

“…This allows us to study not only how scholars in the field frame the concept of the resource curse, but also to provide a comprehensive overview of the evidence around the resource curse's causes, the scope of its impacts, and the ini a ves or proposals to address the curse at global, na onal and sub-na onal levels, and the role of sustainability therein (Papyrakis, 2017). Previous academic analyses of the resource curse debates showed the importance of examining evolving components of the resource curse (Ross, 2001;Papyrakis, 2017), including poli cal aspects (Ross, 1999), the varying levels of the resource curse (Gilberthorpe & Papyrakis, 2015) and how to study these quan ta vely (Van der Ploeg & Poelheke, 2017;Szalai, 2018), and the causes of reduced economic growth in resource curse contexts (Badeeb et al, 2017). None of these ar cles, however, studied how the concept of sustainable development features in recourse curse debates, even though, as we showed, the concept is increasingly prominent in governance ini a ves around the resource curse.…”