Sunday, June 19, 2011

Political institutions and the curse of natural resources

The natural-resource curse is now a staple in the development economist’s diet. Natural resources have tended to lead to lower economic growth, except in democratic countries or those with robust institutions. This column presents a political economy model to explain this phenomenon, focusing on the threat of revolutions.
By Antonio Cabrales and Esther Hauk

Click here to read the article

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