@article{MAKHILLIBM20159325861,
    title = {Russia among Resource Abundant Countries: Institutional Analysis in the Light of Natural Resource Curse Phenomenon},
    journal = {International Business Management},
    volume = {9},
    number = {3},
    pages = {325-333},
    year = {2015},
    issn = {1993-5250},
    doi = {ibm.2015.325.333},
    url = {https://makhillpublications.co/view-article.php?issn=1993-5250&doi=ibm.2015.325.333},
    author = {Elena,KarelMalec Hosaen and},
    keywords = {economic growth,natural resources,institutional quality,Russia,development},
    abstract = {The present study is devoted to the analysis of the Russian 
  institutional system’s quality and its connection with resource abundance of 
  the country. The key question is whether natural resources are blessing or cursing 
  for economic growth and institutional development in Russia. On the basis of 
  the most authoritative indexes of institutional development we analyzed the 
  dynamics of the Russian institutions evolution, made a series of comparisons 
  between Russia and a number of resource abundant countries regarding to their 
  institutional quality and associated with it economic success. The aim was to 
  identify the position of Russia among resource abundant countries with respect 
  to the quality of institutions and its influence on economic growth in the light 
  of the puzzling phenomenon of Natural Resource Curse (NRC). The comparison was 
  done among the following countries: Venezuela, Russia, Mexico, Australia, Canada 
  and Norway. The analysis, being based on the results of econometric models of 
  several we employs in turn index-verification of NRC institutional interpretation. 
  The results show that Russian institutions are still far from production friendly 
  ones what does’nt contribute to effective use of its natural resources and eventually 
  to a robust economic progress; Russia remains under embezzlement mode.}
    }