THE BLIGHT OF RESOURCES AND GREED EFFECT

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KHAIR KHAHAN J.

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Journal Paper

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Journal: NAMEH-YE-MOFID Year:2003 | Volume:9 | Issue:4 (38 ECONOMICS) Page(s): 121-158

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Information Journal Paper

Title

THE BLIGHT OF RESOURCES AND GREED EFFECT

Author(s)

KHAIR KHAHAN J. | Issue Writer Certificate

Keywords

NATURAL RESOURCESQ2

POLITICAL ECONOMYQ3

INTEREST GROUPSQ2

RENT SEEKINGQ4

GREED EFFECTQ4

Abstract

The natural resource rich countries' underdevelopment is one of unsolved mysteries and concerns for economic, social and political researchers. To answer this mystery, various solutions have been put forth so far. According to a most recent solution the root of the problem lies in the presence of powerful INTEREST GROUPS and the weakness of legal institutions which prepare the ground for RENT SEEKING and results in an economic underdevelopment. This paper looks at the abundance of resources from a political economic perspective and spells out the behavior of the saving rate variable in the framework of institutions and INTEREST GROUPS' conflicts. Introducing the "greed effect" the author shows that the saving rate will behave anti-cyclical and the consumption will exceed the abundance of resources. At the end, a quantitative and qualitative investigation demonstrates the impact of greed on Iran's oil boom in mid 1950s.

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APA: Copy

KHAIR KHAHAN, J.. (2003). THE BLIGHT OF RESOURCES AND GREED EFFECT. NAMEH-YE-MOFID, 9(4 (38 ECONOMICS)), 121-158. SID. https://sid.ir/paper/3428/en

Vancouver: Copy

KHAIR KHAHAN J.. THE BLIGHT OF RESOURCES AND GREED EFFECT. NAMEH-YE-MOFID[Internet]. 2003;9(4 (38 ECONOMICS)):121-158. Available from: https://sid.ir/paper/3428/en

IEEE: Copy

J. KHAIR KHAHAN, “THE BLIGHT OF RESOURCES AND GREED EFFECT,” NAMEH-YE-MOFID, vol. 9, no. 4 (38 ECONOMICS), pp. 121–158, 2003, [Online]. Available: https://sid.ir/paper/3428/en

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