Natural Resources: Curse or Blessing?

@article{Ploeg2011NaturalRC,
  title={Natural Resources: Curse or Blessing?},
  author={Frederick van der Ploeg},
  journal={Journal of Economic Literature},
  year={2011},
  volume={49},
  pages={366-420}
}
  • F. Ploeg
  • Published 2011
  • Economics
  • Journal of Economic Literature
Are natural resources a “curse” or a “blessing”? The empirical evidence suggests either outcome is possible. The paper surveys a variety of hypotheses and supporting evidence for why some countries benefit and others lose from the presence of natural resources. These include that a resource bonanza induces appreciation of the real exchange rate, deindustrialization and bad growth prospects, and that these adverse effects are more severe in volatile countries with bad institutions and lack of… Expand

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