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Phronesis and Resource Curse Hypothesis in Post-Independent Sierra Leone

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  • Jackson, Emerson Abraham

Abstract

This study was undertaken with a view of presenting a balanced critical discourse on the concept of Phronesis as applied in the political economy of Sierra Leone. The country is renowned for being endowed with the abundance of non(renewable) natural resources, while at the same time for poor management of resources which has given rise to its classification under the brand name of 'resource curse or Dutch disease'. Based on critical phenomenological discourses of scholarly literature and the analytical hermeneutics of secondary data collected, evidence to some extent have pointed to the fact that both colonial and post-independence governance contributed immensely to the resource curse syndrome in Sierra Leone; a situation where poor management of natural resources has been a disaster, rather than a blessing in the country's sustained pathway of development. The paper thus conclude that Sierra Leone, is capable of recovering from the alleged symptom of 'resource curse/Dutch disease', but only in a situation where the rule of law is effectively applied with perpetrators of unethical acts leading to the exploitation of natural (non) renewable resources are (severely) punished to deter future cases of unethical practices.

Suggested Citation

  • Jackson, Emerson Abraham, 2016. "Phronesis and Resource Curse Hypothesis in Post-Independent Sierra Leone," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 3, pages 1-11.
    • Handle: RePEc:zbw:espost:175658
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    References listed on IDEAS

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    1. Jeffrey D. Sachs & Andrew M. Warner, 1995. "Natural Resource Abundance and Economic Growth," NBER Working Papers 5398, National Bureau of Economic Research, Inc.
    2. Sachs, Jeffrey D. & Warner, Andrew M., 1999. "The big push, natural resource booms and growth," Journal of Development Economics, Elsevier, vol. 59(1), pages 43-76, June.
    3. Anthony J. Venables, 2016. "Using Natural Resources for Development: Why Has It Proven So Difficult?," Journal of Economic Perspectives, American Economic Association, vol. 30(1), pages 161-184, Winter.
    4. van Wijnbergen, Sweder J G, 1984. "The 'Dutch Disease': A Disease after All?," Economic Journal, Royal Economic Society, vol. 94(373), pages 41-55, March.
    5. Melissa Leach & James Fairhead, 2000. "Challenging Neo‐Malthusian Deforestation Analyses in West Africa's Dynamic Forest Landscapes," Population and Development Review, The Population Council, Inc., vol. 26(1), pages 17-43, March.
    6. Doyle, Michael W. & Sambanis, Nicholas, 2000. "International Peacebuilding: A Theoretical and Quantitative Analysis," American Political Science Review, Cambridge University Press, vol. 94(4), pages 779-801, December.
    7. Gylfason, Thorvaldur & Herbertsson, Tryggvi Thor & Zoega, Gylfi, 1999. "A Mixed Blessing," Macroeconomic Dynamics, Cambridge University Press, vol. 3(2), pages 204-225, June.
    8. Marta Reynal-Querol, 2002. "Ethnicity, Political Systems, and Civil Wars," Journal of Conflict Resolution, Peace Science Society (International), vol. 46(1), pages 29-54, February.
    9. Sachs, Jeffrey D. & Warner, Andrew M., 2001. "The curse of natural resources," European Economic Review, Elsevier, vol. 45(4-6), pages 827-838, May.
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    Cited by:

    1. Jackson, Emerson Abraham, 2018. "Political Economy of Forest Ecology in Sierra Leone: A focus on the Western Area Peninsular Forest (WAPFoR)," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 9(1), pages 63-90.
    2. Christopher E.S. WARBURTON & Emerson A. JACKSON, 2023. "The Econometrics of Factor Loadings and Implications for Monetary Policy in a Small Open Economy (2005- 2020) – Sierra Leone," Journal of Economic Policy Researches, Istanbul University, Faculty of Economics, vol. 10(1), pages 19-35, January.
    3. Jackson, Emerson Abraham, 2024. "Economic Theory of Inflation," EconStor Preprints 280999, ZBW - Leibniz Information Centre for Economics.
    4. Jackson, Emerson Abraham, 2020. "Understanding SLL / US$ exchange rate dynamics in Sierra Leone using Box-Jenkins ARIMA approach," MPRA Paper 97965, University Library of Munich, Germany, revised 03 Jan 2020.
    5. Jackson, Emerson Abraham, 2020. "Importance of the Public Service in Achieving the UN SDGs," MPRA Paper 101806, University Library of Munich, Germany, revised 02 Jun 2020.
    6. Jabbie, Mohamed & Jackson, Emerson Abraham, 2020. "On the Validity of Purchasing Power Parity (PPP): The Case of Sierra Leone," MPRA Paper 110659, University Library of Munich, Germany, revised 05 Jun 2020.
    7. Jackson, Emerson Abraham & Jabbie, Mohamed, 2019. "Understanding Market Failure in the Developing Country Context," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, pages 1-10.
    8. Emerson JACKSON & Mohamed JABBIE, 2020. "Twin Deficits Hypothesis as an Indication of Government Failure in Sierra Leone: An Empirical Investigation (1980-2018)," Journal of Economic Policy Researches, Istanbul University, Faculty of Economics, vol. 7(1), pages 42-68, January.
    9. Jackson, Emerson Abraham, 2019. "Informal Employment," MPRA Paper 97902, University Library of Munich, Germany, revised 02 Dec 2019.
    10. Jackson, Emerson Abraham & Jabbie, Mohamed, 2020. "Import Substitution Industrialization [ISI]: An approach to Global Economic Sustainability," MPRA Paper 102316, University Library of Munich, Germany, revised 03 Jul 2020.

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    More about this item

    Keywords

    Phronesis; Paradox of Plenty; Political Economy; Sierra Leone;
    All these keywords.

    JEL classification:

    • F50 - International Economics - - International Relations, National Security, and International Political Economy - - - General
    • N57 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Africa; Oceania
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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