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Since the 1980s, many developing countries started economic restructuring and an opening up towards global markets, following partly the receipt of the ruling neoliberal economic theory. The results of these processes were mostly ambiguous, however, especially regarding the social consequences....
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compared to the rest of the world. We focus on the role of the quality of informal institutions as measured by the World Value … Survey (WVS) and formal institutions as measured by the International Country Risk Guide (ICRG) and the World Governance … quality of institutions. The resulting specification is estimated on a sample of 74 developed and developing countries over …
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This chapter discusses whether the Middle East and North African (MENA) countries are prone to be cursed or blessed by their natural resources endowments. It thus reviews the literature on the resource curse theory. The existence of a resource curse is discussed and arguments against advocates...
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