The "resource curse" vanishes for countries with stable administration and better institutions, like Norway, due to how the resource rents, which is to say the returns from the investment of the extractions are being distributed, while countries rich in resources, like Iran and Saudi Arabia, are still developing and are accompanied by a rising level of poverty. ... For instance, Norway was one of Europe's poorest country in 1900, but similarly to what the United States did following the 1850s, they started exploiting natural resources heavily, such as timber and fish and more ...

• Word Count: 1045
• Approx Pages: 4
• Has Bibliography
• Grade Level: Graduate