In a recent article, Nobel Laureate and Chair of ACET’s Advisory Group Joseph Stiglitz  addresses the question of how countries can turn the resource curse into a blessing. Professor Stiglitz argues that while well known antidotes to the curse exist (such as a low exchange rate, a stabilization fund, careful investment of resource revenues, a ban on borrowing against resources, and transparency), there is a growing consensus that these measures, while necessary, are insufficient. Newly enriched countries need to take several more steps in order to increase the likelihood of a “resource blessing.”

CLICK TO HERE TO READ ARTICLE