Natural resource management theory posits that endowment abundance functions dually as a potential economic blessing or curse contingent upon institutional robustness and policy frameworks rather than the resources themselves. The core mechanism dictates that effective governance requires fiscal rules to decouple public expenditure from volatile commodity prices, sovereign wealth funds for intergenerational asset preservation, and inclusive institutions to mitigate corruption risks such as Dutch disease. This concept operates within Developmental Political Economy by integrating macroeconomic stability principles with resource charter frameworks to ensure sustainable rent conversion into productive investments.
Natural resource management theory posits that endowment abundance functions dually as a potential economic blessing or curse contingent upon institutional robustness and policy frameworks rather tha…