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Theoretical and Empirical Background

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The Curse of Natural Resources

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Abstract

This chapter outlines the theoretical background of how natural resources can be influential in enhancing economic prosperity with a focus on early theories of staples and export-base models as well as the more recent resource curse hypothesis. Factors leading to the resource curse that have been frequently cited in the literature are discussed. Different types of resources in relation to the ways they can generate desirable or undesirable economic outcomes are outlined with specific attention to oil. Next, an institutional approach to the resource curse hypothesis is presented in brief, where the interrelations with natural resource abundance and economic development are monitored. Examples from studies that deal with the resource curse problem using institutional tools are provided.

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  1. Istanbul Kemerburgaz University, Istanbul, Turkey

    Sevil Acar

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  1. Sevil Acar
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Acar, S. (2017). Theoretical and Empirical Background. In: The Curse of Natural Resources. Palgrave Macmillan, New York. https://doi.org/10.1057/978-1-137-58723-7_2

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  • DOI: https://doi.org/10.1057/978-1-137-58723-7_2

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