Understanding financial resource curse conjecture in developing economies: Insights from the rapidly emerging resource-abundant South Asian bloc

Abstract

Natural resources are often associated with economic growth and development. However, the channels of this association can be inherently complex and intriguing. Thus, requiring in-depth deciphering. While the bulk of the literature is deeply rooted in the popular resource curse theory, this contribution specifically explores the Financial Resource Curse (FRC) conjecture. The contribution succinctly encapsulates the followings: (1) A synopsis of resource curse conjecture, (2), Resource curse and financial resource curse in perspective, (3) Pathways to assessing the validity of FRC with empirical illustration from the case of the rapidly emerging south Asian economies. (4), Concluding remarks.