Economic Development and the Resource Curse Thesis

  • Richard M. Auty


The successful industrialisation of many East Asian countries contrasts with the disappointing outcome in much of Latin America and subSaharan Africa. Not surprisingly, given this geographical pattern, explanations usually stress cultural factors (in the form of a work ethic or type of political regime) or environmental factors (the level of urbanisation or the natural resource endowment). Closely linked to this controversy is a second dispute about the mechanism by which the causal factor impacts on a country’s industrialisation. Specifically, some researchers emphasise macroeconomic policy as the mechanism (Lal, 1983; Stern, 1990) while others cite trade and industry policy (Amsden, 1989; Wade, 1990).


Foreign Exchange Real Exchange Rate Industrial Policy Macroeconomic Policy Primary Sector 
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© Development Studies Association 1995

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  • Richard M. Auty

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