International experience in countering "the curse of natural resources"

Abstract

The author analyzes the international experience in combating "curse of natural resources." Analysis of development in countries rich in natural resources shows that in the confrontation of the "Dutch disease" character plays a key role of economic policy. In countries such as Botswana, Indonesia, Norway, as a result of sound economic policies managed to avoid Dutch disease and achieve significant economic growth. In some countries, there have been other events. It is rather the result of wrong economic policies, in particular fiscal and monetary, as well as inefficient management of revenues that come into the country from the sale of raw materials. After all obstacles for development of economy are created not by existence of resources in itself, and the related calls on which it is possible and it is necessary to look for adequate answers. Author's vision of possible reconsideration of the content of concept of resource curse was formulated.