What Have We Learned About The Resource Curse?
Introduction The “resource curse” describes a paradox: countries rich in oil, gas, or minerals sometimes experience weaker institutions, conflict, corruption, authoritarian durability, economic volatility, or disappointing development. The theory does not claim that natural resources automatically cause failure. Resource wealth can finance infrastructure, education, health care, savings, and economic diversification. The question is why similar assets produce very different outcomes across countries and periods. (International Monetary Fund, n.d.) Michael Ross’s

