Common sense and economic theory suggest large revenues from natural resource projects should generate economic progress and development. Yet much evidence argues the opposite and that resource-rich countries suffer from 'resource curse'. This paper provides a survey of the academic literature...

Oil remains a key source of energy, and oil markets matter. Recently, there has been a revival in the debate over whether oil should attract policy attention. This paper examines what elements in oil may attract concern and policy intervention. A particular focus is the recent debate between the...

A phenomenon known as the "resource curse" has plagued a number of natural resource exporting countries. A country is described as "cursed" when it experiences economic stagnation or a decline in economic growth. A number of explanations including misuse of natural resource wealth have been...