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Based on Institutions and the Resource Curse (Mehlum, Moene and Torvik 2006). What is the main hypothesis that is developed and tested in the paper?

Based on "Institutions and the Resource Curse" (Mehlum, Moene and Torvik 2006).

What is the main hypothesis that is developed and tested in the paper?

Discuss the concept of equilibrium in the model developed in the article. Is it a Nash equilibrium or not?

How important is the assumption that producers make positive profits (i.e., >0)? Suppose =0. Would the main results change in any significant way?

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