Resource Abundance and Economic Development

Abstract This book explores the factors behind the underperformance of resource-abundant developing countries compared to resource-deficient countries. Drawing on research from various subfields within economics literature, it argues that since the 1960s, the natural resource endowment of a developing country has strongly affected its capital utilisation efficiency and the nature of its long-term development trajectory. The book is divided into four parts. Part I presents an introduction to the volume. Part II examines the relationship between natural resource endowment and the four main types of capital: produced, natural, human, and social. Part III integrates findings from Part II, and tests the degree to…