Working Papers in full text
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
All
Other research-related activities and publications of the IMF can be found at IMF Research
|
Free Email Notification
Receive emails when we post new
items of interest to you.
Subscribe or
Modify your profile
|
|
|
|
Addressing the Natural Resource Curse: An Illustration from Nigeria
|
Author/Editor: |
Sala-i-Martin, Xavier | Subramanian, Arvind |
| Authorized for Distribution: |
July 1, 2003 |
|
Electronic Access: |
Free Full Text (PDF file size is 1,325KB)
Use the free Adobe Acrobat Reader to view this PDF file.
|
|
|
|
Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.
|
|
Summary: Some natural resources-oil and minerals in particular-exert a negative and nonlinear impact on growth via their deleterious impact on institutional quality. We show this result to be very robust. The Nigerian experience provides telling confirmation of this aspect of natural resources. Waste and poor institutional quality stemming from oil appear to have been primarily responsible for Nigeria's poor long-run economic performance. We propose a solution for addressing this resource curse which involves directly distributing the oil revenues to the public. Even with all the difficulties that will no doubt plague its actual implementation, our proposal will, at the least, be vastly superior to the status quo. At best, however, it could fundamentally improve the quality of public institutions and, as a result, durably raise long-run growth performance.
|
|
|
|
Series: |
Working Paper No. 03/139 |
|
Subject(s): |
Oil | Nigeria | Oil revenues | Economic growth | Natural resources |
|
Author's keyword(s): |
Natural Resources | oil | Nigeria | institutions | growth |
|
|
|
|
| |
Published: |
|
July 1, 2003 |
|
|
|
|
| |
ISBN/ISSN: |
|
1934-7073 |
|
Format: |
|
Paper |
| |
Stock No: |
|
WPIEA1392003 |
|
Pages: |
|
45 |
| |
Price: |
|
US$15.00
|
|
|
|
|
|
|
