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The Elusive Curse of Oil

By Michael Alexeev and Robert Conrad

Abstract

Our goal is to show that contrary to the claims made in several recent papers, the effect of a large endowment of oil and other mineral resources on long-term economic growth of countries has been on balance positive. Moreover, the claims of a negative effect of oil and mineral wealth on the countries' institutions are called into question. Copyright by the President and Fellows of Harvard College and the Massachusetts Institute of Technology.

DOI identifier: 10.1162/rest.91.3.586
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