Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/63059
Year of Publication: 
2002
Series/Report no.: 
Memorandum No. 2002,29
Publisher: 
University of Oslo, Department of Economics, Oslo
Abstract: 
ountries 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 conÞrmed. Our results are in sharp contrast to the claim by Sachs and Warner that institutions do not play a role.
Subjects: 
Natural resources
Institutional quality
Growth
Rent-seeking
JEL: 
F43
Document Type: 
Working Paper

Files in This Item:
File
Size
410.95 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.