Institutions and The Resource Curse  

Oleh:

Torvik, Ragnar ; Moene, Karl ; Mehlum, Halvor

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 116 no. 508 (2006), page 1-20.
Topik: resources; institutions; resource curse
Fulltext: 1.pdf (537.18KB)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE28.20 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Countries rich in natural resources constitute both growth losers and growth winners. We claim that the main reason for these diverging experiences is differences in the quality of institutions. More natural resources push aggregate income down, when institutions are grabber friendly, while more resources raise income, when institutions are producer friendly. We test this theory building on Sachs and Warner's influential works on the resource curse. Our main hypothesis – that institutions are decisive for the resource curse – is confirmed. Our results contrast the claims of Sachs and Warner that institutions do not play a role.

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