Dutch Disease: This term refers to an economic condition where a country's focus on one lucrative natural resource leads to neglect of other sectors such as agriculture or manufacturing.
Rent-seeking: Rent-seeking occurs when individuals or groups try to obtain economic benefits by manipulating public policies rather than creating value through productive activities.
Extractive institutions: Extractive institutions refer to systems that exploit resources for the benefit of a few elites while suppressing inclusive economic growth and political participation.