Genuine saving is a measure of net investment in produced, natural and human capital. It is a necessary condition for weak sustainable development that genuine saving not be persistently negative. However, according to data provided by the World Bank, resource-rich countries are systematically failing to meet this condition. Alongside the well-known resource curse on economic growth, resource a...

We propose and investigate a new channel through which the resource curse a stylized fact that countries rich in natural resources grow slower operates. Predatory governments are more likely to expropriate corporate profits in natural resource industries when the price of resources is higher. Corporations whose profits are more dependent on the price of resources can mitigate the risk of exprop...

We revisit the resource curse theory by providing empirical evidence for effects of natural rents on subjective well-being. Using a cross-sectional model based global sample 149 countries, we highlight that tend to reduce happiness but this effect differs according (i) political system and level development, (ii) types measures resources (iii) scale happiness. Specifically, negative tends be am...

This paper summarizes and extends previous research that has shown evidence of a `curse of natural resourcesa } countries with great natural resource wealth tend nevertheless to grow more slowly than resource-poor countries. This result is not easily explained by other variables, or by alternative ways to measure resource abundance. This paper shows that there is little direct evidence that omi...

The curse of natural resources is a well-documented phenomenon in developing countries. Economies that are richly endowed with natural resources tend to grow slowly. Among the transition economies of the former " Eastern Bloc " , a similar pattern can be observed. This paper shows that a large part of the variation in growth rates among the transition economies can be attributed to the curse of...