Addressing the Natural Resource Curse: An Illustration from Nigeria Arvind Subramanian

ISBN: 9786613801241

Published: July 1st 2003

ebook

94 pages


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Addressing the Natural Resource Curse: An Illustration from Nigeria  by  Arvind Subramanian

Addressing the Natural Resource Curse: An Illustration from Nigeria by Arvind Subramanian
July 1st 2003 | ebook | PDF, EPUB, FB2, DjVu, AUDIO, mp3, RTF | 94 pages | ISBN: 9786613801241 | 9.20 Mb

Some natural resources-oil and minerals in particular-exert a negative and nonlinear impact on growth via their deleterious impact on institutional quality. We show this result to be very robust. The Nigerian experience provides telling confirmationMoreSome natural resources-oil and minerals in particular-exert a negative and nonlinear impact on growth via their deleterious impact on institutional quality.

We show this result to be very robust. The Nigerian experience provides telling confirmation of this aspect of natural resources. Waste and poor institutional quality stemming from oil appear to have been primarily responsible for Nigerias poor long-run economic performance. We propose a solution for addressing this resource curse which involves directly distributing the oil revenues to the public. Even with all the difficulties that will no doubt plague its actual implementation, our proposal will, at the least, be vastly superior to the status quo.

At best, however, it could fundamentally improve the quality of public institutions and, as a result, durably raise long-run growth performance.



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