Wasted windfalls: Inefficiencies in health care spending in oil rich countries

Regardless of the vast wealth that oil can bring to a country, it can be regularly observed that oil rich countries underperform in terms of economic and social outcomes compared to their oil poor counterparts. Actually, this pattern was observed so often that it was termed the ‘resource curse’. The political resource curse predicts that an abundance of natural resources leads to inefficient public policies, due to corruption and rent-seeking....