We estimate the long-run effects of oil wealth on development by exploiting spatial variation in sedimentary basins—areas where petroleum can potentially form. Instrumental variables estimates indicate that oil production impedes democracy and fiscal capacity development, increases corruption,...

We examine the economic impacts of natural resource revenue-sharing systems, where central governments transfer a portion of resource revenue to producing regions. Using a natural experiment in Indonesia, we separately identify the effects of shared revenue and resource extraction. Contrary to...

The Democratic Republic of Congo (DRC) is rich in natural resources, but its economy remains vulnerable to fluctuations in commodity prices. Endogenous economic diversif ication, a concept aimed at broadening a country’s economic base by utilizing its own resources and capacities, could offer...

We examine the economic impacts of natural resource revenue-sharing systems, where central governments transfer a portion of resource revenue to producing regions. Using a natural experiment in Indonesia, we separately identify the effects of shared revenue and resource extraction. Contrary to...

The present paper deals with the role of political authorities and institutions in explaining growth failures. We aim to search answers for three related questions: is there a natural resources curse? Are all types of natural resources exposed to a curse? Can good institutions, measured by a...

Natural resource dependence is believed to have potential impact on institutional development, and there is growing consensus in the academic literature that institutional weakness is central to the explanation of the negative effects of resource booms. Generally, the quality of institutional...

The paper aims at investigating the dependency of the Russian economy on natural resources, underlining the causes and the possible consequences of this growth model. The analysis tries to evaluate if the Russian manufacturing has contracted the “Dutch Disease”, that is, if a boom in the oil...

An extensive literature shows the importance of investment policy for sustainability of resource-based economies. The approaches of these studies are mostly based on theoretical results that examine the role of investments in a competitive optimizing economy. This paper extends some of these...

This paper investigates whether natural resource revenues in the GCC countries lead to economic growth or if the resource curse is evident. Using panel data for six countries during 1996-2019, we investigate the indirect relationship in which natural resources and economic growth operate through...

The purpose of this paper is to test whether institutional governance and its performance is a main driving force to achieve a positive relationship between natural resources and economic growth in the long run. The main objective is to ascertain what kind of institutional governance would be...