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Abstract
ABSTRACT Using macrolevel data on patience, this study shows that greater dependence on oil revenues is linked to lower levels of patience. Mediation analysis identifies the quality of governance as a key mechanism. Oil rents weaken institutions, create economic and political uncertainty, and ultimately shorten individuals’ time horizons. These findings shed light on an overlooked aspect of the resource curse: its erosion of patience, which is a significant correlate of economic growth.
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