The Curse of Natural Resources Endowment: A Review of Literature
The pernicious effect of the volatile nature of natural resources revenues, mainly oil and gas, often have detrimental effects on the economic growth of resource rich countries. Furthermore, the size of the resources’ revenues often instigates a series of economic and political troubles such as corruption and rent seeking that would hinder economic progress, prevent the country from achieving sustainability and set the resource curse. The present paper provides an array of literature that introduces the resource curse and tackles the different aspects of this phenomenon.
Keywords - Abundance, Resources, Economic Growth. Dutch Disease, Institutions.