The curse of natural resources |
| |
Institution: | 1. College of Business Administration, King Saud University, Riyadh, Saudi Arabia;2. Department of Management Sciences, COMSATS Institute of Information Technology, Lahore, Pakistan;3. Universiti Sultan Zainal Abidin, 21030 Kuala Terengganu, Terengganu, Malaysia;1. Department of Economics and IUDESP, Universidad de Alicante, Spain;2. Department of Economics, Universidad de Alicante, Spain;3. Business School, University of Hull, United Kingdom |
| |
Abstract: | This paper summarizes and extends previous research that has shown evidence of a “curse of natural resources” – countries with great natural resource wealth tend nevertheless to grow more slowly than resource-poor countries. This result is not easily explained by other variables, or by alternative ways to measure resource abundance. This paper shows that there is little direct evidence that omitted geographical or climate variables explain the curse, or that there is a bias resulting from some other unobserved growth deterrent. Resource-abundant countries tended to be high-price economies and, perhaps as a consequence, these countries tended to miss-out on export-led growth. |
| |
Keywords: | |
本文献已被 ScienceDirect 等数据库收录! |
|