Lessons of the Spanish Empire, or the Curse of Resource Abundance

18 Pages Posted: 27 Jul 2012

See all articles by Vladimir Mau

Vladimir Mau

Russian Presidential Academy of National Economy and Public Administration; Gaidar Institute for Economic Policy

Date Written: July 26, 2012

Abstract

The role of natural resources in contributing to stable economic development is of growing interest to economists and politicians. In evaluations of the prospects for development of a given country it was once assumed that rich natural resources and a vast territory provided favorable conditions for successful socio-economic development. However, in recent decades this assumption has been qualified: it is now realized that these conditions create only the potential for growth, whereas actual economic development can turn out to be unimpressive

Keywords: natural resource, socio-economic development, Sain in16-17 centuries

JEL Classification: N53, N73, N83

Suggested Citation

Mau, Vladimir, Lessons of the Spanish Empire, or the Curse of Resource Abundance (July 26, 2012). Available at SSRN: https://ssrn.com/abstract=2117758 or http://dx.doi.org/10.2139/ssrn.2117758

Vladimir Mau (Contact Author)

Russian Presidential Academy of National Economy and Public Administration ( email )

Varnadskogo Avenue,82
Sredny av. V.O., 57/43
Moscow, St. Petersburg 119571
Russia

Gaidar Institute for Economic Policy ( email )

Gazetny pereulok, 3-5
Moscow, 125993
Russia

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