Introduction
Resource curse has been one of the most debated economic issues for the past four to five decades. Indeed, it refers to a theoretical approach that connects certain indicators of a country’s economic growth to its reliance on natural resources such as oil, gas, and minerals. According to a general belief (termed as ‘resource curse’), the countries that are rich in natural and non-renewable resource are characterized by lower levels of democracy, economic growth, and development as compared to the countries with less or no reliance on these resources (Sachs, and Wartner, 2001). On the basis of the ...
