with fewer natural resources. There are many theories and much academic debate about the reasons for and exceptions to the adverse outcomes. Most experts believe the resource curse is not universal or inevitable but affects certain types of countries or regions under certain conditions. As of at least 2023, there is no academic consensus on the effect of resource abundance on economic development.

History

The idea that resources might be more of an economic curse than a blessing first emerged as early as 1711, with English

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