Lecture 9: The Resource Curse, Rent-Seeking and Development

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University of Toronto Scarborough
International Development Studies
Leslie Chan

IDSA10PROFCHEN 110911 LECTURE 9 THE RESOURCE CURSE RENTSEEING AND DEVELOPMENT the case of ZaireThe Dem Rep CongoLecture By Professor Paul KingstonOverview of the Debates about the Resource Curse and Rent SeekingQuestions to Considera Is an abundance of natural resources badb What causes the Resource cursec How can this curse be overcomePostColonial Thinking p Natural resources was thought to be an unmitigated asset for developmentp A key challenge of many postcolonial states was to accumulate enough investment capital to not only promote economic growth but also to promote economic independence from the colonial powers p Modernization theorists like Rostow also argued that natural resources were essential in providing capital to promote development and transformation in underdevelopeddeveloping nationsPresentDay Thinking p An abundance of natural resources can have a negative effect on economic growth and developmentp An abundance of natural resources can have a negative effect on political developmenthurting processes of democratic transition
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