The impact of the «resource curse» on the anti-crisis strategies of resource-rich during a pandemic: the case of Ibero-American countries

The research paper examines the impact of resource dependence on the crisis management strategies of Ibero-American countries in the context of the COVID-19 pandemic. The global crisis has exposed the vulnerabilities of the region’s economies, particularly those that rely on natural resources such as oil, copper, and precious metals. The analysis focused on countries such as Venezuela, Peru, Ecuador and Chile, which faced unprecedented challenges and where the economic and social impact of the pandemic exposed differences in governance performance. This analysis is particularly important because resource-dependent countries have not previously been subject to such pressures due to non-economic shocks, making these countries an atypical case study during the pandemic. The study relies on a case study approach to allow for an in-depth examination of crisis management in specific Ibero-American countries. Data on crisis management policies were collected from the Organisation for Economic Co-operation and Development, the World Health Organization, the International Monetary Fund, and the CoronaNet research project. Preliminary results show that countries with high resource dependence and weak institutions, such as Venezuela, experienced deeper crises that were exacerbated by governance failures. In contrast, Chile, thanks to its copper revenues and strong institutions, was able to mitigate the impact of the pandemic by investing in health. Peru and Ecuador are in between: their resource base was not a decisive factor due to governance weaknesses. These findings highlight the key role of institutional resilience in the effectiveness of crisis response. The paper offers new perspectives on how resource dependence interacts with crisis governance and highlights the importance of strengthening institutions for Ibero-American countries.