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Power struggles and the natural resource curse

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Empirical evidence suggests that the natural-resource curse operates through the behavior of the political elite, yet there are few models that convincingly illustrate the mechanism at work. I present a model where natural-resource abundance generates power struggles, thereby increasing the effective discount rate of the governing group. As a result, the elite makes fewer investments in the long-run development of the country.

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en

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application/pdf

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http://eprints.lse.ac.uk/4926/1/pwer_struggles_and_the_natural_resource_curse_LSERO.pdf

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