The curse of natural resources: An empirical investigation of U.S. counties |
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Authors: | Alex James David Aadland |
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Institution: | Department of Economics and Finance, University of Wyoming, Laramie, WY, United States |
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Abstract: | Research consistently shows that natural resource dependence tends to be associated with lower economic growth. However, the studies typically focus on differences across nations or states. We fill a gap in the literature by testing the so-called resource curse at a more disaggregated county level. Our results show clear evidence that resource-dependent counties exhibit more anemic economic growth, even after controlling for state-specific effects, socio-demographic differences, initial income, and spatial correlation. A case study analysis of Maine and Wyoming, and the counties within, highlight the growth effects of specializing in natural resource extraction. |
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