『Abstract
A large body of literature has arisen in economics and political
science analyzing the apparent “resource curse” - the tendency
of countries with high levels of natural resources to exhibit
worse economic and political outcomes. This paper examines the
purported causal mechanisms underlying this curse and shows that
they all center on the revenue that these resources generate for
the government. As such, it is not surprising that the most recent
literature on the topic has demonstrated that in the hands of
a competent government, natural resources have no negative consequences
and may actually have positive effects. The important question
therefore is, What can be done in countries without effective
governments? Policy proposals have centered on (a) taking the
resources out of the hands of the government, or (b) having the
government commit to use the funds in certain ways. Neither of
these has been particularly successful, which we might have predicted
from research on another important non-tax revenue source for
developing countries: foreign aid. The close parallels between
the foreign aid and resource curse literatures are reviewed, as
are the lessons from the aid literature. These lessons suggest
the need for an important change in approach toward poorly governed
resource-rich countries.』
Acknowledgements
I. Introduction
II. The revenue curse
III. The lessons of foreign aid
IV. A “Selectivity” approach to natural resources
V. Conclusion
References