Natural resources, economic growth and institutions – a panel approach

Abstract

This study re-evaluates the impact of natural resources on growth using panel data and a factor-efficiency accounting framework. The resource-curse thesis is dismissed as capital efficiency is improved by geographically-concentrated natural resources, which hinder institutional quality in recent cross-section studies. This consensus does not hold in our case even when we use unadjusted resource proxies and the standard institutional approach, as both concentrated and diffuse resources show negative effects in low institutional-quality countries. Adequate fiscal policy seems to prevent the curse in that case, but reduces the positive effect of concentrated resources found with our adjusted proxy.

Cite this work

No public copy is stored for this record, so only the metadata is cited.

Stored only when both papers are in the corpus — 16 citations exist upstream.

Papers that cite the same references — the relational fallback while embeddings are still backfilling.