Cabrales, Antonio; Hauk, Esther - Barcelona Graduate School of Economics (Barcelona GSE) - 2007
, in countries with weak institutions. Natural resources may be bad for democracy by harming political turnover. Our model … also suggests a non-linear dependence of human capital on natural resources. For low levels of democracy human capital … depends negatively on natural resources, while for high levels of democracy the dependence is reversed. This theoretical …