Natural Resources, Capital Accumulation, Structural Change, and Welfare

Richard M. Auty · Sampsa Kiiski

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Natural Resources and Economic Development Global trade and economics Economic Growth and Productivity

Abstract

Abstract This chapter establishes the stylised facts on capital accumulation, structural change, and social welfare in developing countries with different natural resource endowments. It is shown that the development of resource-abundant countries varies depending on their natural resource endowment. Resource-deficient countries diversify into manufactured production and exports sooner, and are less prone to trade policy closure.

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1995Natural Resource Abundance and Economic Growth 1996A New Data Set Measuring Income Inequality 1965Regional Inequality and the Process of National Development: A Description of the Patterns 1992Agricultural productivity, comparative advantage, and economic growth 1998Demographic Transitions and Economic Miracles in Emerging Asia 1961The role of agriculture in economic development 1997World Development Report 1997 1989Oil windfalls: blessing or curse?

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