Department of Economics and Centre For Macroeconomics public lecture Yes, it is a Curse: politics and the adverse impact of natural-resource riches Professor Francesco Caselli Norman Sosnow Professor of Economics, Department of Economics, LSE Shifts in the World Economy and their Consequences Programme Leader, CFM Macro Research Programme Director, CEP Professor John Van Reenen Chair, LSE Suggested hashtag for Twitter users: #LSEecon
Yes, it is a Curse Sosnow Lecture Francesco Caselli
Horror Stories • Corruption • Autocracy Poverty • Civil War • International War
Across Countries
100 Sudan 80 Index of corruption 60 40 20 Switzerland 0 Natural Capital as a share of GDP
Within Countries Across Regions
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Mun. A Mun. B Mun. C
Within Countries Over Time
Change in Democracy Most Autocratic Most Democratic Democracy Index
Giant Oil Fields
Within Countries Across Regions and Over Time
Within Countries Across Neighbouring Countries
More conflict Country A Country B
More conflict More conflict Country A Country B
Conflict Probability 11.5% 3% 3.5% Country A Country B
Conflict Probability 3% 8.5% 4% Country A Country B
Summing Up • Corruption • Autocracy • Civil War • International War
The Norway Question • Institutions? • History? • Ethnic diversity? • Inequality? • Culture?
Department of Economics and Centre For Macroeconomics public lecture Yes, it is a Curse: politics and the adverse impact of natural-resource riches Professor Francesco Caselli Norman Sosnow Professor of Economics, Department of Economics, LSE Shifts in the World Economy and their Consequences Programme Leader, CFM Macro Research Programme Director, CEP Professor John Van Reenen Chair, LSE Suggested hashtag for Twitter users: #LSEecon
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