Books Details
Author : Macartan Humphreys Pages : 408 pages Publisher : Columbia
University Press Language : ISBN-10 : 0231141963 ISBN-13 : 9780231141963
Books Descriptions
The wealth derived from natural resources can have a tremendous impact on
the economics and politics of producing countries. In the last quarter century,
we have seen the surprising and sobering consequences of this wealth,
producing what is now known as the "resource curse." Countries with large
endowments of natural resources, such as oil and gas, often do worse than their
poorer neighbors. Their resource wealth frequently leads to lower growth rates,
greater volatility, more corruption, and, in extreme cases, devastating civil
wars.In this volume, leading economists, lawyers, and political scientists address
the fundamental channels generated by this wealth and examine the major
decisions a country must make when faced with an abundance of a natural
resource. They identify such problems as asymmetric bargaining power, limited
access to information, the failure to engage in long-term planning, weak
institutional structures, and missing mechanisms of accountability. They also
