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Working Paper
Oil Curse, Economic Growth and Trade Openness
An important economic paradox that frequently arises in the economic literature is that countries with abundant natural resources are poor in terms of real gross domestic product per capita. This paradox, known as the ?resource curse,? is contrary to the conventional intuition that natural resources help to improve economic growth and prosperity. Using panel data for 95 countries, this study revisits the resource curse paradox in terms of oil resource abundance for the period 1980?2017. In addition, the study examines the role of trade openness in influencing the relationship between oil ...