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Institutions and the resource curse
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In this article, the authors claim that the main reason for diverging experiences is differences in the quality of institutions, and they test this theory building on Sachs and Warner's influential works on the resource curse.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 are in sharp contrast to the claim by Sachs and Warner that institutions do not play a role.read more
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References
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Book ChapterDOI
Timber Booms and Institutional Breakdown in Southeast Asia: Indonesia: Putting the Forests to “Better Use”
TL;DR: The problem of resource booms is investigated in this article, where three puzzles are solved: three puzzles of resourcebooms, the problem of institutional breakdown, and the legal slaughter of the forests.
Journal ArticleDOI
Economic Consequences of Organized Violence
TL;DR: In the writing of economic history at present there is a tendency to focus on the quantity of material goods and of people as discussed by the authors, which is not because economists seriously maintain that the chief end of man is to produce a maximum population, each member of which has at his disposal a maximum amount of material things.
Journal ArticleDOI
Order Without Law? Property Rights During the California Gold Rush
TL;DR: In this paper, the authors argue that the main historical features of mining districts may best be understood by viewing them not as enforcers of private property rights, but as institutions for managing access to a nonrenewable resource in what was fundamentally an open-access context.