Resource Curse in the Democratic Republic Of Congo: The Quest for Economic Development

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Abstract:

The "resource curse" is a phenomenon that came to the limelight in the 1980's. Prior to this, sufficient endowment with natural resources was hyphenated with development. However, a new paradigm observed that endowment of natural resources did not always lead to development. Venezuelan politician Juan Pablo Perez Alfonso predicted that oil would bring ruin to the world. Angolan civil war was sustained by diamond trade. Oil in the Niger Delta has led to petro aggression and minerals in the DRC have not been an asset to the country. A school of thought therefore emerged that studied the nexus between natural resources and underdevelopment. The - notion that being endowed with natural resources does not necessarily translate to development received the pride of place. Scholars explained the politics of rent seeking with vigor. This study explores the phenomenon of a "resource curse" and its manifestation the DRC. It looks at the manifold actors at play in perpetuating resource curse. Lastly, the study will give recommendations on the way forward as far as management of resources is concerned. The study will retrieve data from the United States International University Library, journals articles, conference research and review papers, newspaper articles as well as internet sources.

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Resource Curse in the Democratic Republic Of Congo: The Quest for Economic Development

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