Abstract
In this essay, we set out to show that the preference of political leaders for the maximization of relative share of social wealth, not absolute wealth, creates an institutional structure inimical to the evolution of developmental state in resource-rich LDCs countries, particularly Sub-Saharan Africa. This institutional matrix contrived by political leadership is responsible for the under-development of entrepreneurship and the sub-optimal provision of public goods. The glue that holds this inefficient institutional structure together is natural resource endowment. Greater level of endowments leads to weaker institutional structure and lower level social welfare.
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