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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),2017,1–15NicolásCachanoskyMetropolitanStateUniversityofDenver______________________________________________________AbstractThispapercomparesAlgeriatoNorwayinthecontextoftheresourcecursetheory.ThispaperusesAlgeriaasacasestudywherethenaturalresourcecurseiscontrastedwiththeargumentthattheproblemistobefoundinweakorill-designedinstitutions:namely,thattheproblemofunderdevelopedcountrieswithvaluableresourcesisaninstitutionalone.Analternativeexplanationforthepresumedillsofoil-richnationsexaminestheroleofweakorill-designedinstitutions.Wefindthatfrom1970through2010,Algeria’sshort-,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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Title	The Myth of the Resource Curse: A Case Study of Algeria
Authors/Creators:	Mohammed Akacem, Metropolitan State University of Denver Nicolás Cachanosky, Metropolitan State University of Denver
Year:	2017
Volume:	32
Number:	2
Pages:	1 - 15
Publisher:	The Association of Private Enterprise Education
ISSN:	0890-913X
Document Type:	Articles
Keywords:	Algeria, resource curse, oil curse, institutions, democracy

Citation:
Akacem, Mohammed; Cachanosky, Nicolás / 2017. "The Myth of the Resource Curse: A Case Study of Algeria." The Journal of Private Enterprise, 32(2): 1-15.