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The Rent Curse – Natural Resources, Policy Choice, and Economic Development - Oxford Scholarship Online
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The Rent Curse: Natural Resources, Policy Choice, and Economic Development

Richard M Auty and Haydn I Furlonge


This book analyses the political economy of economic development using two stylized facts models of rent-driven growth. The models show that: (i) the resource curse is a variant of a wider rent curse that can be driven by geopolitical rent (foreign aid), labour rent (worker remittances), or regulatory rent (government manipulation of relative prices); (ii) the rent curse is caused by policy failure and is avoidable; (iii) the global incidence of the rent curse varies over time, which reflects development policy fashions; and (iv) the intensity of the rent curse also varies with rent linkages. ... More

Keywords: Keywords Economic development, rent curse, industrial policy, export services

Bibliographic Information

Print publication date: 2018 Print ISBN-13: 9780198828860
Published to Oxford Scholarship Online: January 2019 DOI:10.1093/oso/9780198828860.001.0001


Affiliations are at time of print publication.

Richard M Auty, author
Professor Emeritus in Economic Geography, Lancaster University, UK

Haydn I Furlonge, author
Adjunct Lecturer, Arthur Lok Jack Graduate School of Business, The University of the West Indies, Jamaica