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Summer 2017
ISSN 0890-913X
Volume 32, Number 2

The Myth of the Resource Curse: A Case Study of Algeria

Mohammed Akacem, Metropolitan State University of Denver
Nicolás Cachanosky, Metropolitan State University of Denver
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TheMythoftheResourceCurse:ACaseStudyofAlgeriaMohammedAkacemMetropolitanStateUniversityofDenverTheJournalofPrivateEnterprise32(2),2017,115NicolásCachanoskyMetropolitanStateUniversityofDenver______________________________________________________AbstractThispapercomparesAlgeriatoNorwayinthecontextoftheresourcecursetheory.ThispaperusesAlgeriaasacasestudywherethenaturalresourcecurseiscontrastedwiththeargumentthattheproblemistobefoundinweakorill-designedinstitutions:namely,thattheproblemofunderdevelopedcountrieswithvaluableresourcesisaninstitutionalone.Analternativeexplanationforthepresumedillsofoil-richnationsexaminestheroleofweakorill-designedinstitutions.Wefindthatfrom1970through2010,Algeriasshort-,medium-,andlong-termgrowthratesarenotaffectedbythepresenceofnaturalresourcerentsinaneconomicallysignificantway.Wearguethattheroleofinstitutionsadvancesamoreconsistentexplanationforthemuch-discussedandanalyzedallegednegativeimpactofnaturalresourcesontheeconomy,andoffersawayoutofeconomicunderperformanceintermsofpolicyimplications.______________________________________________________JELCodes:O13,O43,O47Keywords:Algeria,resourcecurse,oilcurse,institutions,democracyI.IntroductionEndowedwithnaturalresources,Algeriashouldhavedonewellinthefifty-plusyearssinceitgainedindependencefromFrancein1962.Butithasyettomakemeasurableprogressonboththeeconomicandpoliticalfronts.Thecountryhasstumbledfromoneturningpointtoanother,allmarkedbythedirectorindirectinfluenceofthemilitary.Thereisnopoliticalclassinthetruesenseoftheword,despitethemultitudeofpartiesthatproliferatedaftertheOctober1988riots.Ontheeconomicfront,Algeriahasreliedontheoilandgassectorandhasfailedtodiversifyitseconomyandtocreatemuchneededjobsforthemillionsofdisaffectedyouth.Inexploringtheoilanddemocracytheme,thispapercomparesAlgeriatoNorwayinthecontextoftheresourcecursetheory.An
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