In the 1960s, Norway lagged behind its Scandinavian neighbors in the aggregate value of economic production per capita, as it had for decades. By the 1990s, Norway had caught up with and forged ahead of Denmark and Sweden. When and why did Norway catch up? The discovery and extraction of oil in...

Recent work on the resource curse argues that the effect of resource wealth on development outcomes is a conditional one: resource-dependent countries with low-quality institutions are vulnerable to a resource curse, while resource-dependent countries with high-quality institutions are not. But...

In the paper, I explored links between inflow of FDI, natural resource abundance and economic growth. The paper is an attempt to analyze a lager sample of 106 countries and investigate the impact of FDI inflow on the economic growth of the host country. Further, natural resource abundance is...

This research investigated the effective economic growth determinants using a panel data set over the period 1995 to 2010 in oil-rich countries divided by the level of democracy into two groups: countries with low and high democracy. The result of OLS method rejects the curse hypothesis;...

In the paper, I explored links between inflow of FDI, natural resource abundance and economic growth. Natural resource abundance is considered to slow down the economic growth. The paper explores if the natural resource abundance reduce the FDI induced growth in the host country. Using panel...

This paper examines the effects of OPEC membership on economic development. Using the theory of transaction cost economics (TCE), we show that OPEC satisfies the characteristics of a hybrid organisation under TCE. Thus, membership in OPEC should improve economic development by reducing...

This paper decomposes the resource curse and its potential reversal in three important dimensions; type of resource, type of institutional measure, and time. Studying components of primary exports we find that the curse is (to various degrees) present for all components but that its possible...

A surprising feature of resource-rich economies is slow growth. It is often argued that natural-resource production impedes development by creating market or institutional failures. This paper establishes an alternative explanation—a slow-growing resource sector. A declining resource sector is...

A surprising feature of resource-rich economies is slow growth.  It is often argued that natural-resource production impedes development by creating market or institutional failures.  This paper establishes an alternative explanation -  a slow-growing resource sector.  A declining resource...