The Elusive Curse of Oil

by Michael Alexeev and Robert Conrad. Reading for week of December 6, 2005.

Our goal is to show that contrary to the claims made in several recent papers, the effect of a large endowment of oil and other mineral resources on long-term economic growth of countries has been on balance positive. Moreover, the claims of a negative effect of oil and mineral wealth on the countries' institutions as well as on some other factors potentially affecting economic growth do not appear to be valid.

Published: Wednesday, November 30, 2005

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