Abstract
Defying intuition, natural resource wealth on aggregate has been found to be negatively correlated with economic growth and living standards1 and positively correlated with income inequality (Ross 2003). Natural resource wealth has also been found to be a fertile ground for social conflict (Collier and Hoeffler 2005; Ross 2006) and authoritarianism (Ross 2001). The negative correlation between natural resource wealth and economic growth has been dubbed the ‘resource curse’.2KeywordsGross Domestic ProductInternational Monetary FundReal Exchange RateCapital InflowExchange Rate PolicyThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
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