Published in «Russian Journal of Entrepreneurship»10 / 2016
DOI: 10.18334/rp.17.10.35292

Could the resource course be good for the Russian economy?

Lyubimov Ivan L., Ph.D., Senior Researcher, Research Laboratory of Economic Growth Issues, Institute for Applied Economic Research, the Russian Presidential Academy of National Economy and Public Administration, Russia

Может ли ресурсное проклятие стать благом для российской экономики? - View in Russian

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Abstract:
The article is devoted to the analysis of historical successful and unsuccessful examples of countries with rich natural resources. Upon results of the analysis, the author draws the conclusion that the resource wealth as it is does not pose the great risk or the benefit for the economic growth: the result of the research of these resources depends on the additional factors that include the educational level and the quality of institution. In relation to this, the result of the author's empirical study of the effect of the resource wealth on economic growth rates made in this article is not surprising. Moreover, this result is confirmed by both historical episodes and results of some key studies on the subject of the resource curse. Upon results of the analysis, the author also forms practical recommendations for the Russian economy as one greatest international exporters of the raw material.

Keywords:

«resource curse», Dutch disease, economic growth, quality of institutions, raw excess profits

JEL-Classification: N50, O13, O40

Citation:
Ivan L. Lyubimov (2016). Could the resource course be good for the Russian economy? [Mozhet li resursnoe proklyatie staty blagom dlya rossiyskoy ekonomiki?]. Russian Journal of Entrepreneurship, 17(10). (in Russian). – doi: 10.18334/rp.17.10.35292.


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