Using cross-country regressions, we examine the relationship between “point-source” resource abundance and economic growth, quality of institutions, investment in human and physical capital, and social welfare (life expectancy and infant mortality) for all countries and for the economies in...

This paper studies the cycles of nationalization and privatization in resource-rich economies. We discuss available evidence on the drivers and consequences of privatization and nationalization, review the existing literature, and present illustrative case studies. Our main contribution is then...

A key objective of competition or antitrust law is to promote efficiency in business and to serve the public interest. This means that business entities merging or having relationships that reduce the scope for competition and efficiency inevitably attract national and international regulatory...

Which exact institutions constrain the resource curse and when are they successful? The resource curse literature's recent institutional turn does not provide convincing answers. This article focuses on specific institutions - resource stabilization funds (RSFs) - that, when successful, help...

Are natural resources a “curse” or a “blessing”? The empirical evidence suggests either outcome is possible. The paper surveys a variety of hypotheses and supporting evidence for why some countries benefit and others lose from the presence of natural resources. These include that a...