Addressing the Natural Resource Curse : An Illustration from Nigeria / Xavier Sala-i-Martin & Arvind Subramanian.

Format:

Book

Author/Creator:

Sala-i-Martin, Xavier, author.

Subramanian, Arvind, author.

Series:

Working Paper Series (National Bureau of Economic Research) ; no. w9804.

NBER working paper series ; no. w9804

Language:

English

Subjects (All):

Natural resources.

Nigeria--Economic conditions.

Nigeria.

Physical Description:

1 online resource (45 pages) : illustrations (black and white).

Place of Publication:

Cambridge, Massachusetts : National Bureau of Economic Research, 2003.

Summary:

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 corruption from oil rather than Dutch disease has been responsible for its 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 of corruption and inefficiency 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, transform economics and politics in Nigeria.

Notes:

Description based on publisher supplied metadata and other sources.