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Analyzing the Resource Curse theory: A comparative study of Kazakhstan and Norway

Akylbekova, Dina LU (2015) EKHK18 20151
Department of Economic History
Abstract
Many natural resources lead economies experience worse economic performance than their exports lead counterparts. This phenomenon is known as the Resource Curse, and many resource abundant countries face it. This study is aimed to critically assess existing Resource Curse theory by comparing two seemingly different cases Kazakhstan and Norway. Based on the Resource Curse theory hypothesis suggests that there are institutions related preconditions determining the presence or absence of the Resource Curse in natural resource abundant countries. To achieve the research aim and test the hypothesis the study reviews three major Resource Curse theory models: the Dutch Disease, Rent-seeking and Institutions models, and apply them to Kazakhstan... (More)
Many natural resources lead economies experience worse economic performance than their exports lead counterparts. This phenomenon is known as the Resource Curse, and many resource abundant countries face it. This study is aimed to critically assess existing Resource Curse theory by comparing two seemingly different cases Kazakhstan and Norway. Based on the Resource Curse theory hypothesis suggests that there are institutions related preconditions determining the presence or absence of the Resource Curse in natural resource abundant countries. To achieve the research aim and test the hypothesis the study reviews three major Resource Curse theory models: the Dutch Disease, Rent-seeking and Institutions models, and apply them to Kazakhstan and Norway. The empirical findings have revealed that oil production has quite similar effects on economies of Kazakhstan and Norway, and these findings cannot be fully explained by the Resource Curse theory. (Less)
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author
Akylbekova, Dina LU
supervisor
organization
course
EKHK18 20151
year
type
M2 - Bachelor Degree
subject
keywords
Resource Curse, Kazakhstan, Norway, oil, institutions, rent-seeking
language
English
id
7760298
date added to LUP
2016-04-22 15:24:16
date last changed
2016-04-22 15:24:16
@misc{7760298,
  abstract     = {Many natural resources lead economies experience worse economic performance than their exports lead counterparts. This phenomenon is known as the Resource Curse, and many resource abundant countries face it. This study is aimed to critically assess existing Resource Curse theory by comparing two seemingly different cases Kazakhstan and Norway. Based on the Resource Curse theory hypothesis suggests that there are institutions related preconditions determining the presence or absence of the Resource Curse in natural resource abundant countries. To achieve the research aim and test the hypothesis the study reviews three major Resource Curse theory models: the Dutch Disease, Rent-seeking and Institutions models, and apply them to Kazakhstan and Norway. The empirical findings have revealed that oil production has quite similar effects on economies of Kazakhstan and Norway, and these findings cannot be fully explained by the Resource Curse theory.},
  author       = {Akylbekova, Dina},
  keyword      = {Resource Curse,Kazakhstan,Norway,oil,institutions,rent-seeking},
  language     = {eng},
  note         = {Student Paper},
  title        = {Analyzing the Resource Curse theory: A comparative study of Kazakhstan and Norway},
  year         = {2015},
}