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Resource Abundance and Economic Development$
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R. M. Auty

Print publication date: 2004

Print ISBN-13: 9780199275786

Published to Oxford Scholarship Online: April 2005

DOI: 10.1093/0199275785.001.0001

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Political Economy of Resource-Abundant States

Political Economy of Resource-Abundant States

Chapter:
(p.126) 8 Political Economy of Resource-Abundant States
Source:
Resource Abundance and Economic Development
Author(s):

Richard M. Auty (Contributor Webpage)

Alan H. Gelb

Publisher:
Oxford University Press
DOI:10.1093/0199275785.003.0008

This chapter examines the relationship between political economy and natural resource endowment using an extension of Lal’s (1995) typology of political states. The extended typology explains why the governments of resource-abundant countries are less likely to align their interests with those of the majority than the governments of resource-deficient countries. Natural resource rents feed conflicts so that the resource-abundant country has a factional or predatory government that relaxes market discipline in capturing and redistributing the rents. Thus, the economy is deflected from its comparative advantage and cumulates economic distortions that retard growth and/or cause the economy to depend on a weakening primary sector.

Keywords:   political economy, natural resource endowment, resource-abundant countries

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