WP: The Myth of the Resource Curse: A Case Study for Argelia

Borrador sobre el mito del Resource Curse según el cual la presencia de rentas significativas originadas por rescursos naturales atenta contra el desarrollo económico de los países. En este paper, junto a Mohammed Akacem, argumentamos que el problema no es la presencia de recursos naturales con valor de mercado, sino que el problema es institucional.

Entre otroas argumentos, mostramos que el factor institucional tiene mayor significancia económica a largo plazo que rentas de recursos naturales.

In October 1988, Algeria went through the autumn of its own discontent and yet more than two decades later, the country is still ruled by the «old guard», namely the veterans of the war of independence. This paper examines the reasons Algeria has resisted the winds of change blowing through the region with emphasis in the role of oil and democracy. Much of the scholarship that deals with the resource curse concludes that Oil is at the root of economic troubles and social unrest. This is not the case in Algeria, rather like many countries, its institutions are what greatly affect the economic and political ills of the country. The paper highlights the importance of institutions and presents empirical evidence to support the claim that contrary to Jeffrey Sachs they matter for everything.

Acceder al paper en SSRN.