Prokletí přírodních zdrojů: případová studie Venezuela a Norsko

The phenomenon of the resource curse represents a significant challenge for the stability of export-oriented economies, as an abundance of natural resources often paradoxically leads to institutional decline and high economic volatility. This bachelor's thesis aims to identify and analyze the key factors determining the differing efficiency of natural resource management in Venezuela and Norway. The research employs a comparative analysis of key macroeconomic indicators and econometric time-series modeling for the period between 2000 and 2024. Regression results suggest that Norway exhibits a lower dependence on oil price fluctuations compared to Venezuela. Descriptive analysis further reveals that the absence of transparent fiscal rules and critically low levels of investment in research and development in Venezuela exacerbate the procyclical nature of the economy. In combination with hyperinflation and unsustainable debt exceeding 300% of GDP, these factors have led to a systemic collapse. Conversely, the Norwegian model demonstrates the effectiveness of the institutional decoupling of government spending from oil revenues through a sovereign wealth fund. The contribution of this work lies in its consistency with the empirical thesis that the resource curse is not an inevitable consequence of resource abundance, but rather a failure of governance. The findings highlight the importance of establishing independent stabilization mechanisms and economic diversification as essential prerequisites for sustainable development in countries heavily reliant on the export of mineral wealth.