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Economic Rents

Export Mineral Rents, Rentierism and Make Work Programmes An Assessment of the Welfare Consequences for a Small Gas Exporting Economy

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The literature has profiled the experience of several extractive industry
economies throughout history to identify key commonalities such as the
tendency to implement welfare systems which negatively impact long-run
resource allocation. These commonalities in terms of social, economic, and
political economy attributes have been collectively coined as the ‘Resource
Curse Thesis’; the reinforcing nature of the combination of factors
ultimately culminate to constrain long-run economic growth. This paper

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