The resource curse regadering energy wealth and quality of institutions
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2016-12-21
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en
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Abstract
The use of energy has increased with a factor of 16 in the last century. Therefore, one can assume that countries abundant in fossil fuels will experience high GDP growth. This thesis considers countries abundant in fossil fuels energy wealthy countries. However, many resource rich countries fail to grow more rapidly than resource poor countries. Some countries experience being resource rich as a blessing (i.e. Norway) while others experience being resource rich as a curse (i.e. Venezuela). Hence, there has to be another factor that influences the relationship between fossil fuel abundance and economic performance. This factor is assumed to be institutional quality. Institutional quality can be divided in low quality grabber friendly institutions and high quality producer friendly institutions. The hypothesis of this thesis is that if a country has grabber friendly institutions, then being energy wealthy will negatively influence a country’s economic performance. This hypothesis is rejected because of robustness.
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Faculteit der Managementwetenschappen