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Addressing the Natural Resource Curse
Mr.Arvind SubramanianXavier Sala-i-Martin
其他書名
An Illustration From Nigeria
出版International Monetary Fund, 2003-07-01
主題Nature / Natural ResourcesBusiness & Economics / Investments & Securities / Commodities / EnergyBusiness & Economics / Taxation / General
ISBN14518560679781451856064
URLhttp://books.google.com.hk/books?id=yFsYEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋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 confirmation of this aspect of natural resources. Waste and poor institutional quality stemming from oil appear to have been primarily responsible for Nigeria's 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.