Resource Curse Or Not:A Survey On Sub Saharan African Countries

The Sub Saharan Africa countries are abundant of natural resources but the district has turned into an exemplary instance of the poorest status and the resource curse phenomenon.The study seeks to identify whether the resource curse exists in the region and to identify the relationship between country institutional level factors(rule of law,control of corruption,and regulatory quality)and their impact on natural resources and their management.It rather lays emphasis on the fact that resource revenues could be used to avoid the current situation by the provision of basic needs like security,improving institutions,education and the promotion of enterprise that will be a guarantor of sustainable economic opportunities.The study analyzed 10 Sub Saharan African countries that abundant in natural resources to examine the fact of existing natural resources curse which has a negative impact on growth and the potential to use the natural resources wealth for economic growth and development.We used the panel data model and the key finding is that institutions factor is the cause of avoiding resource curse in Sub Saharan countries such as Angola,Chad,DR Congo,and the factor that contributes to the economic growth of those nations.The investigation additionally recognizes that civil conflict was the cause of slow economic growth in Cameroon,Sudan,and the Republic of Congo.The paper suggested that countries such as Angola,Equatorial Guinee,and Sudan should change their expendable common assets into resources local venture,and private capital and outside money related resources which will produce future pay and bolster continued advancement,Chad country should invest in human capital to build high level human capacity in public administration to achieve sustainable economic growth and so on.