professor Richard Auty coined the concept of resource curse in economics in 1993 in his seminal work. Resource curse or ‘paradox of plenty’ is linked to the failure of citizens in many resource-rich countries like Nigeria to benefit from their natural resources. The governments failed to respond effectively by providing the welfare needs for the citizens. However, the resource-based view can be linked with the works of Edith Penrose in…
Read the full article here