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Conditional Resource Curse
Resource Curse is a highly debatable phenomenon in economic and political sciences. Political and economic institutions are acknowledged to be one of the determinants of the role of natural resources in economic development. This paper differentiates the effects of resources in the short-run and long-run and shows that, consistent with the existing evidence, boom in resource rents might resolute in immediate economic growth whereas over longer periods its effect may be either neutral or negative - depends on institutions. It also empirically re-establishes the existence of the Resource Curse utilizing the IV approach.