Michael Giberson TAKORADI, Ghana — The impoverished West African nation of Ghana become the world’s newest oil producer Wednesday, pumping crude for the first time from an offshore field worth billions of dollars in the Gulf of Guinea. President John Atta Mills turned the oil valves Wednesday during in an inaugural ceremony broadcast live from a storage vessel …
Oil Flows in Ghana, is the Resource Curse Soon to Follow? Read More »
Michael Giberson We’ve mentioned the “natural resource curse” a few times here. Harvard’s Jeffrey Frankel provides a recent and thorough overview of the literature in “The Natural Resource Curse: A Survey” with a helpful focus on what policies resource rich companies can consider to mitigate the curse. Abstract: It is striking how often countries with …
Frankel Surveys the Natural Resource Curse Literature Read More »
Michael Giberson A paper by Francesco Caselli and Guy Michaels, “Do Oil Windfalls Improve Living Standards? Evidence from Brazil,” takes a closer look at the how the resource curse works its anti-magic. (Ungated version here.) The abstract: We use variation in oil output among Brazilian municipalities to investigate the effects of resource windfalls. We find …
Digging into the Resource Curse: Research into Oil Revenue and Brazilian Municipalities Read More »
Michael Giberson A discovery of significant amounts of oil in Ghana has inspired a great deal of inquiry into how the country can avoid falling victim to the “resource curse,” the surprisingly low levels of economic development and weakening of political and social institutions sometimes associated with discovery and exploitation of valuable natural resources. In …
Ghana and Its Newfound Oil: Can It Use the Alaska Model to Avoid the Resource Curse? Read More »
Lynne Kiesling A couple of weeks ago I linked to a post from Ed Glaeser on his research on urban dynamism. Glaeser has posted a follow-up to his initial comments. He asks: For decades, economists have debated the “ Dutch Disease” and other ailments associated with too much success. The discovery of natural gas in the …
Michael Giberson Joshua Keating, in Foreign Policy, offers a photo essay on lithium extraction in Bolivia. Keating said: Bolivia hopes its lithium treasure can pull it up from the bottom rungs of the global economy, but as countries throughout the developing world have learned the hard way, resource wealth can just as easily lead to …
Lynne Kiesling The following is a post I wrote in March 2004 about the regular, annual, seasonal rise in gasoline prices that always occurs at this time of year. I am reposting it here because it generally still applies, and I am inserting some updated comments in bold below. Being systematic, here are the primary …
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