... into productive investments, but are depleted through corruption, inefficient institutions and policies aimed at rent-seeking interest groups. Developing countries dependent on the wealth natural resources create policies for extracting resources and capturing rents, subsequently allocating those rents in ways that often privilege the elite rather than public investments that would enhance growth and collective social welfare. Natural ... enrich the officials," and believed the program could only be legitimized through fundamental system reforms. The extraction of fossil fuels and other ...

• Word Count: 1045
• Approx Pages: 4
• Has Bibliography
• Grade Level: Graduate