The Resource Curse and Fiscal Policy

摘要: Recent discoveries of natural gas reserves, and continued exploration in the Eastern Mediterranean, have attracted attention investors to region. Interestingly, many studies highlighted that general resource-rich countries grow more slowly than their resource-poor neighbours, rather growing faster as would be expected. This literature has been labelled “resource curse”, since it suggests resources a curse blessing for countries, creating social tensions, governance problems, economic distortions, hampered facilitated growth. In this study, we analyse how natural-resource revenues should managed, first by looking at prescriptions theoretical literature, then what done practice selected range including both failure stories, success stories. These case help highlight pitfalls avoided practices proved successful, particular interest like Israel Cyprus, which unveiled or may all likelihood about unveil new stocks.