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Traditionally considered a curse for a nation‘s development, commodity wealth in Latin America and the Caribbean (LAC) could – on the contrary – represent a foundation for prosperity, according to a new report released today by the World Bank.The increased demand for minerals and agricultural commodities from Asian markets, especially […]

Growth studies show, counter to intuition, that the discovery of a natural resource may be a curse rather than a blessing since resource-rich countries grow slower than others. But it has been suggested that Norway may be an important exception to the curse and that the curse does not afflict […]

One of the surprising features of modern economic growth is that economies abundant in natural resources have tended to grow slower than economies without substantial natural resources. In this paper we show that economies with a high ratio of natural resource exports to GDP in 1970 (the base year) tended […]

Oxford Professor Paul Collier talks about the natural resource curse and makes suggestions on how to overcome it.