Emmerling

Der Fluch natürlicher Ressour Emmerling German edition

Diplomarbeit aus dem Jahr 2005 im Fachbereich VWL - Mikroökonomie, allgemein, Note: 1,0, Freie Universität Berlin (Institut für Finanzwissenschaft), 67 Quellen im Literaturverzeichnis, Sprache: Deutsch, Abstract: The curse of natural resources has been debated widely both amongst academia and practitioners. This paper focuses on the political economy aspects of the matter. We argue that the rents created by resource extraction shape incentives in an economy such that investors are opting for "grabbing" the resource instead of engage in productive investments given its much higher expected pay-offs. We use a simple model to illustrate the impact of institutions, which are pivotal for the magnitude of the curse. We then look at a cross-country dataset using an IV estimator and find some evidence that countries with better institutional setting do indeed experience a less severe resource curse. This can explain e.g., the different experiences of countries like Norway or Canada as compared to the countries of the Gulf of Guinea.