“Being rich in energy resources – a blessing or a curse” finds that an energy resource curse plagues many EU supplier states. This in turn directly affects Europe’s energy supply security and threatens to engulf Europe in unwanted hostilities at home and abroad. The study addresses seven...

There is an adage about wealth and democracy that says “the more well-to-do a nation, the greater the chances it will sustain democracy.” Accordingly, one would expect that nations rich in natural resources, and particularly those with large deposits of oil – a clear absolute advantage –...

There is a disagreement on the concept, definition and application of the paradigm of sustainable development. The definition that has been accepted by many involves several components, and it is difficult to measure or quantify indicators. Depending on the structure of the economy, it is...

When Kazakhstan was trying to go out from economic, social and political transition, suddenly faced well-known problems of the oil-rich countries. It is absolutely vital that Kazakhstan evaluate its oil-income for going out from transition and developing itself in accordance with the conditions...

Natural resource dependence is believed to have potential impact on institutional development, and there is growing consensus in the academic literature that institutional weakness is central to the explanation of the negative effects of resource booms. Generally, the quality of institutional...

The present paper deals with the role of political authorities and institutions in explaining growth failures. We aim to search answers for three related questions: is there a natural resources curse? Are all types of natural resources exposed to a curse? Can good institutions, measured by a...

The paper aims at investigating the dependency of the Russian economy on natural resources, underlining the causes and the possible consequences of this growth model. The analysis tries to evaluate if the Russian manufacturing has contracted the “Dutch Disease”, that is, if a boom in the oil...