The paper considers the variety ways of economic growth in resource-rich economies in which resource wealth affects the incentives to innovation by the firms and incentives of population for education. It considers the ways of avoiding the economic decrease in resource rich countries and gives brief information about its variety of problems arising from the natural resources. For instance, how the natural resource presence can affect the government actions and how it can lead to corruption among the elite of the economy. And it presented some cases where this corruption was not spread due to good institute management. The thesis also talks about some ways of avoiding, so called, the Dutch disease through stabilization financially. These actions allow oil producing countries to stabilize the spending of the government and soften the domestic economy from the sharp and unpredictable changes in oil prices and revenue.