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Paradox of Plenty or Resources Curse?

Author

Listed:
  • Viorica Puscaciu
  • Florin-Dan Puscaciu

Abstract

The article aims to present the situation of the countries rich in resources, whose paradox is that they are spoiled of their natural gifts, and thus remaining increasingly poorer as for their standard of living, and level of the economic development. The aim of this research is to point out these aspects in order to contribute to the awareness of anyone would be interested in this important matter. As for the theoretical framework it is circumscribed to the development economics area. The concepts used to present the problems faced by these countries are: resources curse, Duch disease, and banana republic. The novelty element of this research is the problem of Romania in this matter. The goal of this trial is to bring into attention this topic, and to see what could be done in order to change to better the present situation. The means of proving these evidences are different, depending on the problems that the countries are facing, and their level of economic development. The results of our research stand in the pertinent conclusions that are in the final part of the study.

Suggested Citation

  • Viorica Puscaciu & Florin-Dan Puscaciu, 2015. "Paradox of Plenty or Resources Curse?," Knowledge Horizons - Economics, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 7(3), pages 239-243, September.
    • Handle: RePEc:khe:journl:v:7:y:2015:i:3:p:239-243
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    References listed on IDEAS

    as
    1. Acemoglu, Daron, 2005. "Politics and economics in weak and strong states," Journal of Monetary Economics, Elsevier, vol. 52(7), pages 1199-1226, October.
    2. Arthur M. Ross, 2012. "Why a New Journal?," Industrial Relations: A Journal of Economy and Society, Wiley Blackwell, vol. 51(1), pages 3-6, January.
    3. Sachs, Jeffrey D. & Warner, Andrew M., 2001. "The curse of natural resources," European Economic Review, Elsevier, vol. 45(4-6), pages 827-838, May.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Natural resources; curse; development; economic growth; national economy;
    All these keywords.

    JEL classification:

    • D69 - Microeconomics - - Welfare Economics - - - Other
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government

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