scholarly journals A Review on the Resource Curse

2018 ◽  
Vol 26 (2) ◽  
pp. 179-189 ◽  
Author(s):  
László Szalai
Keyword(s):  
Economic Growth ◽  
Empirical Research ◽  
Resource Curse ◽  
Growth Effects ◽  
The Past ◽  
Transmission Channels ◽  
Current State ◽  
Rich Countries

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.

scholarly journals Can Human Development Bonds Reduce the Agency Costs of the Resource Curse?

2019 ◽  
Vol 12 (1) ◽  
pp. 191-245
Author(s):  
Luke Sperduto
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Human Development ◽  
Empirical Research ◽  
Resource Curse ◽  
Sovereign Bond ◽  
Weak Institutions ◽  
Potential Benefits ◽  
Rich Countries ◽  
Significant Support

Abstract Especially in resource rich countries with weak institutions of governance, the interests of governments often diverge from those of their citizens and creditors. Sovereign bond contracts can potentially help align these interests, to the benefit of all parties, by indexing payment obligations to improvements in the health and education of the issuer’s citizenry. To that end, this Article proposes a Human Development Bond (HDB) with a variable coupon schedule that both insures issuers against recessions and incentivizes them to encourage investment in human capital when economic growth is strong. The potential benefits of such an instrument can only be realized, however, with significant support from the international community. Moreover, further empirical research is needed to calibrate the HDB’s coupon schedule to provide well-timed and appropriately sized debt relief.

scholarly journals RESOURCE CURSE AND THE EITI MEMBERSHIP EFFECT ON THE ECONOMIC GROWTH AND CORRUPTION IN SUB-SAHARAN AFRICA: PART I - A THEORETICAL REVIEW

2020 ◽  
Vol 5 (1) ◽  
pp. 18-28
Author(s):  
Andries Francois Geldenhuys ◽  
Oluseye Samuel Ajuwon ◽  
Michael Graham
Keyword(s):  
Economic Growth ◽  
Value Chain ◽  
Resource Curse ◽  
Sub Saharan Africa ◽  
Resource Governance ◽  
Growth Outcomes ◽  
Sub Saharan ◽  
Rich Countries ◽  
Resource Sector ◽  
The Impact

This study reviews the theoretical literature concerning the resource curse as it pertains to the impact of natural resources upon economic growth and corruption in sub-Saharan Africa (SSA), and how the Extractive Industries Transparency Initiative (EITI) membership can be of help. The EITI is an international standard promoting open and transparent resource governance through disclosure mechanisms in the resource value chain. Corruption has been associated with less-than-average economic growth in resource-rich countries. This research concludes that the theoretical review found that through the dissemination of disclosures in the natural resource sector, the EITI can potentially reduce the prevalence of corruption in implementing countries in SSA and it can address negative economic growth outcomes associated with resource abundance. However, there is not much evidence empirically needed to suggest this.

The Political Economy of the Resource Curse

1999 ◽  
Vol 51 (2) ◽  
pp. 297-322 ◽  
Author(s):  
Michael L. Ross
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Resource Curse ◽  
The Political ◽  
Economic Problems ◽  
The Past ◽  
Wide Range ◽  
Resource Wealth ◽  
New Research ◽  
Natural Resource Wealth

How does a state's natural resource wealth influence its economic development? For the past fifty years, versions of this question have been explored by both economists and political scientists. New research suggests that resource wealth tends to harm economic growth, yet there is little agreement on why this occurs. This article reviews a wide range of recent attempts in both economics and political science to explain the “resource curse.” It suggests that much has been learned about the economic problems of resource exporters but less is known about their political problems. The disparity between strong findings on economic matters and weak findings on political ones partly reflects the failure of political scientists to carefully test their own theories.

Die Hypothese des Ressourcenfluchs

2021 ◽  
Author(s):  
David Röder
Keyword(s):  
Economic Growth ◽  
Relevant Literature ◽  
Resource Curse ◽  
Empirical Results ◽  
Paradoxical Phenomenon ◽  
Avoidance Strategies ◽  
Rich Countries ◽  
Theoretical Considerations

Some studies point to comparatively slow economic growth in resource-rich countries. This seemingly paradoxical phenomenon is referred to as the resource curse. David Röder identifies in this paper relevant literature, shows and evaluates the economic and political causes of this "curse" and discusses different avoidance strategies taking into account critical sources. Theoretical considerations, empirical results and various models are used for a better understanding.

scholarly journals The Policy Framework of Natural Resource Management in Oil-Dependence Countries

2020 ◽  
Author(s):  
Basem Ertimi ◽  
Tamat Sarmidi ◽  
Norlin Khalid ◽  
Mohd Helmi Ali
Keyword(s):  
Economic Growth ◽  
Natural Resources ◽  
Natural Resource Management ◽  
Resource Curse ◽  
Policy Framework ◽  
Resource Flows ◽  
Long Run ◽  
Management Policies ◽  
Oil Revenues ◽  
Rich Countries

The resource curse indicates that economic growth performs poorly in countries with significant natural resources. Nevertheless, certain countries rich in energy managed to protect their resource riches in the long run. It is necessary to enforce effective policies in resource-rich countries to fully leverage the advantages which can come from the abundance of natural resources. This study aimed to evaluate how oil-rich countries would avoid resource flows by successful fiscal and management policies. By taking the guidance of Norway and implementing fiscal policy focused on tax rules on its oil management, it is proposed that oil-exporting countries benefit significantly. The framework attempts to mitigate this resource curse and utilise oil revenues in the interest of the country.

scholarly journals 22.E. Workshop: The planet, economic growth and ourselves: evidence from population health trends in rich countries

2020 ◽  
Vol 30 (Supplement_5) ◽  
Author(s):  
◽  
Keyword(s):  
Economic Growth ◽  
Life Expectancy ◽  
Population Health ◽  
Health Inequalities ◽  
Health Improvement ◽  
G7 Countries ◽  
Health Trends ◽  
The Past ◽  
Rich Countries ◽  
Health And Health Inequalities

Abstract Sustainable Development Goal 8 (SDG8) calls for sustainable economic growth, and this is essential for improving population health in developing countries. However, SDG8 also raises a vital and poorly addressed question for rich countries. Is it possible for population health to continue to improve rather than stagnate or even worsen over long periods of zero or low economic growth? The Preston curve, relating average income per person to life expectancy at one point in time, shows the association across countries is highly nonlinear, but does not assess the longitudinal relationship within countries. In the past decade of low growth and austerity, long-term increasing life expectancy trends in UK and USA have stalled. The reasons for the interruption in health improvement are disputed, and include increased socioeconomic and geographic inequalities, such as early disadvantage, and deaths of despair. If the pattern of low growth and stagnant health trends was repeated across rich countries, there would be reason for concern that continuing population health improvement was incompatible with an environmentally sustainable economy. The workshop will examine evidence from G7 countries on trends in health and health inequalities over the past 40 years. The headline health indicators are life expectancy, lifespan variation, all-cause and cause-specific mortality and self-rated health. The workshop will bring together recent findings from two distinct research networks, based in UK, Japan and Sweden. The research has been conducted independently, yet is highly complementary in respect of population health trends in the context of the SDG8 policy question: is it possible that rich countries could thrive, absent of economic growth? Key messages The relation between economic growth and population health is a vitally important consideration, as policy makers strive to meet climate change targets. Among G7 countries, recent trends in health and health inequalities are both adverse (USA, UK) and favourable (Japan) indicating that low growth can be compatible with improving population health.

Mechanisms of Resource Curse and Economic Policy

2007 ◽  
pp. 4-27 ◽  
Author(s):  
V. Polterovich ◽  
V. Popov ◽  
A. Tonis
Keyword(s):  
Real Exchange Rates ◽  
Resource Curse ◽  
Budget Deficits ◽  
Resource Abundance ◽  
Fuel Prices ◽  
Use Of Resources ◽  
Resource Wealth ◽  
The One ◽  
The Right ◽  
Rich Countries

This paper compares various mechanisms of resource curse leading to a potentially inefficient use of resources; it is demonstrated that each of these mechanisms is associated with market imperfections and can be "corrected" with appropriate government policies. Empirical evidence seems to suggest that resource abundant countries have on average lower budget deficits and inflation, and higher foreign exchange reserves. Besides, lower domestic fuel prices that are typical for resource rich countries have a positive effect on long-term growth even though they are associated with losses resulting from higher energy consumption. On top of that resource abundance allows to reduce income inequalities. So, on the one hand, resource wealth turns out to be conducive to growth, especially in countries with strong institutions. However, on the other hand, resource abundance leads to corruption of institutions and to overvalued real exchange rates. On balance, there is no solid evidence that resource abundant countries grow more slowly than the others, but there is evidence that they grow more slowly than could have grown with the right policies and institutions.

Concealment of Illegally Obtained Assets in Nigeria: Revisiting the Role of the Churches in Money Laundering

2020 ◽  
Vol 28 (1) ◽  
pp. 106-121
Author(s):  
Kato Gogo Kingston
Keyword(s):  
Economic Growth ◽  
Money Laundering ◽  
Financial Crime ◽  
The Past ◽  
Key Drivers ◽  
Nigerian Government

Financial crime in Nigeria – including money laundering – is ravaging Nigeria's economic growth. In the past few years, the Nigerian government has made efforts to tackle money laundering by enacting laws and setting up several agencies to enforce the laws. However, there are substantial loopholes in the regulatory and enforcement regimes. This article seeks to unravel the involvement of the churches as key drivers in money laundering crimes in Nigeria. It concludes that the permissive secrecy which enables churches to conceal the names of their financiers and donors breeds criminality on an unimaginable scale.

Current state and main directions of preservation and strengthening of health of the working population of Russia

2020 ◽  
pp. 527-532 ◽  
Author(s):  
I. V. Bukhtiyarov
Keyword(s):  
Working Conditions ◽  
Russian Federation ◽  
Production Environment ◽  
Working Population ◽  
Industrial Enterprises ◽  
The Past ◽  
Production Factors ◽  
Current State ◽  
The Russian Federation

The article presents the results of the analysis of health, working conditions and prevalence of adverse production factors, the structure of the detected occupational pathology in the working population of the Russian Federation. The article presents Statistical data on the dynamics of the share of workplaces of industrial enterprises that do not meet hygienic standards, occupational morbidity in 2015-2018 for the main groups of adverse factors of the production environment and the labor process. The indicators of occupational morbidity over the past 6 years in the context of the main types of economic activity, individual subjects of the Russian Federation, classes of working conditions, levels of specialized occupational health care. The role of the research Institute of occupational pathology and occupational pathology centers in solving organizational, methodological and practical tasks for the detection, treatment, rehabilitation and prevention of occupational diseases is shown. The basic directions of activity in the field of preservation and strengthening of health of workers, and also safety at a workplace are defined.

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