What explains why some wealthy oil-rich states in the Middle East suffer from stagnation

Question

Quizplus · Accepted Answer

The resource curse refers to the paradox that countries and regions with an abundance of natural resources, especially non-renewable ones like oil, tend to have less economic growth, political instability, and worse development outcomes than countries with fewer natural resources. This phenomenon is often observed in wealthy oil-rich states in the Middle East, where the over-reliance on oil exports, combined with corrupt and undemocratic governance, has created perverse incentives that harm rather than help the economy and the people.

What Explains Why Some Wealthy Oil-Rich States in the Middle