Abstract

http://ssrn.com/abstract=878186
 
 

References (38)



 
 

Citations (116)



 


 



Institutions and the Resource Curse


Halvor Mehlum


University of Oslo - Department of Economics

Karl O. Moene


University of Oslo - Department of Economics

Ragnar Torvik


Norwegian University of Science and Technology (NTNU) - Department of Economics


Economic Journal, Vol. 116, No. 508, pp. 1-20, January 2006

Abstract:     
Countries 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 confirmed. Our results contrast the claims of Sachs and Warner that institutions do not play a role.

Number of Pages in PDF File: 20

Accepted Paper Series





Date posted: May 8, 2006  

Suggested Citation

Mehlum, Halvor and Moene, Karl O. and Torvik, Ragnar, Institutions and the Resource Curse. Economic Journal, Vol. 116, No. 508, pp. 1-20, January 2006. Available at SSRN: http://ssrn.com/abstract=878186 or http://dx.doi.org/10.1111/j.1468-0297.2006.01045.x

Contact Information

Halvor Mehlum (Contact Author)
University of Oslo - Department of Economics ( email )
P.O. Box 1095 Blindern
N-0317 Oslo
Norway
Karl O. Moene
University of Oslo - Department of Economics ( email )
P.O. Box 1095 Blindern
N-0317 Oslo
Norway
+47 22855130 (Phone)
+47 22855035 (Fax)
Ragnar Torvik
Norwegian University of Science and Technology (NTNU) - Department of Economics ( email )
N-7491 Trondheim
Norway
+47 735 91420 (Phone)
+47 735 96954 (Fax)
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