“Central Bank governors come and go, but one major structural weakness in the T&T economy has remained unchanged; and this is that Trinidad and Tobago continues to depend on oil and gas.”1,634 more words
Tags » Resource Curse
Although Norway is a capitalist country, it is state-owned enterprises that seem to be most prevalent in business circles. Oil revenues have been at the forefront of Norway’s development and it is, behind Luxembourg, the richest country in Europe. 343 more words
While this projection is based on linear growth rates it is still relatively in line with what U.N. reports have suggested. Nigeria is an interesting case, initially the country was seen as the classic case of resource curse, but increasingly it is able to translate its resources into sustained growth and some alleviation of poverty. 44 more words
Don't Blame the Abundance of Oil! The Volatility in Oil Revenues Combined With Poor Governmental Responses to these Volatilities Drives the Resource Curse
This blog is written by Kamiar Mohaddes, Senior Lecturer and Fellow in Economics at Girton College, University of Cambridge, UK.
According to the resource curse paradox, abundance of oil (natural gas, minerals and other non-renewable resources) is believed to be an important determinant of economic failure. 690 more words