Fiscal Policy and the Natural Resources Curse: How to Escape from the Poverty Trap

It is widely accepted that natural resource wealth, especially in the form of oil and minerals, can be a key factor in inhibiting economic development. Many of the countries that are richest in natural resources – including oil, metals and diamonds – are amongst the world’s poorest. Why?

Fiscal Policy and the Natural Resources Curse re-examines this ancient, unsolved puzzle, asking why many governments of natural resource-intensive countries are incapable, in a globalised world, of dealing ...