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resource curse
The resource curse, also known as the paradox of plenty, refers to the paradox that countries and regions with an abundance of natural resources, specifically point-source non-renewable resources like minerals and fuels, tend to have less economic growth and worse development outcomes than countries with fewer natural resources. This is hypothesized to happen for many different reasons, including a decline in the competitiveness of other economic sectors (caused by appreciation of the real exchange rate as resource revenues enter an economy, a phenomenon known as Dutch disease), volatility of revenues from the natural resource sector due to exposure to global commodity market swings, government mismanagement of resources, or weak, ineffectual, unstable or corrupt institutions (possibly due to the easily diverted actual or anticipated revenue stream from extractive activities). The resource curse may not be universal for all countries with an abundance of natural resources, but on average, economies with abundant natural resources have tended to grow more slowly than natural-resource-scarce economies.
== Resource curse thesis ==
The idea that natural resources might be more an economic curse than a blessing began to emerge in the 1980s. The term ''resource curse thesis'' was first used by Richard Auty in 1993 to describe how countries rich in natural resources were unable to use that wealth to boost their economies and how, counter-intuitively, these countries had lower economic growth than countries without an abundance of natural resources. Numerous studies, including one by Jeffrey Sachs and Andrew Warner, have shown a link between natural resource abundance and poor economic growth.〔 This disconnect between natural resource wealth and economic growth can be seen by looking at an example from the petroleum-producing countries. From 1965 to 1998, in the OPEC countries, gross national product per capita decreased on average by 1.3% per year, while in the rest of the developing world, it grew by an average of 2.2% per year. Djankov et al. argue that financial flows from foreign aid can provoke effects that are similar to the resource curse. Abundance of financial resources in absence of sufficient innovation effort in the corporate sector may also lead to the problem of "resource curse."
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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