The Elusive Curse of Oil

26 Pages Posted: 27 Sep 2005

See all articles by Michael Alexeev

Michael Alexeev

Indiana University Bloomington - Department of Economics; Russian Presidential Academy of National Economy and Public Administration

Robert F. Conrad

Duke University - Sanford School of Public Policy; Duke University - Department of Economics

Date Written: August 2005

Abstract

Our goal is to show that contrary to the claims made in several recent papers, the effect of a large endowment of oil and other mineral resources on long-term economic growth of countries has been on balance positive. Moreover, the claims of a negative effect of oil and mineral wealth on the countries' institutions as well as on some other factors potentially affecting economic growth do not appear to be valid.

Keywords: Natural resources, economic growth, economic development, oil, Dutch disease

JEL Classification: O47, O13, Q32

Suggested Citation

Alexeev, Michael V. and Conrad, Robert F., The Elusive Curse of Oil (August 2005). Available at SSRN: https://ssrn.com/abstract=806224 or http://dx.doi.org/10.2139/ssrn.806224

Michael V. Alexeev (Contact Author)

Indiana University Bloomington - Department of Economics ( email )

Wylie Hall 105
Bloomington, IN 47405-6620
United States

Russian Presidential Academy of National Economy and Public Administration ( email )

pr. Vernadskogo, 84
Moscow, 119571
Russia

Robert F. Conrad

Duke University - Sanford School of Public Policy ( email )

201 Science Drive
Box 90312
Durham, NC 27708-0239
United States
919-613-7355 (Phone)

Duke University - Department of Economics

213 Social Sciences Building
Box 90097
Durham, NC 27708-0204
United States

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