The natural resource curse and economic transition
AbstractUsing cross-country regressions, we examine the relationship between “point-source” resource abundance and economic growth, quality of institutions, investment in human and physical capital, and social welfare (life expectancy and infant mortality) for all countries and for the economies in transition. Contrary to most literature, we find little evidence of a natural resource curse for all countries. Only the “voice and accountability” measure of institutional quality is negatively and significantly affected by oil wealth. In the economies in transition, there is some evidence that natural resource wealth is associated with lower primary school enrollment and life expectancy and higher infant mortality compared to other resource rich countries. Compared to other economies in transition, however, natural resource abundant transitional economies are not significantly worse off with respect to our indicators.
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Bibliographic InfoArticle provided by Elsevier in its journal Economic Systems.
Volume (Year): 35 (2011)
Issue (Month): 4 ()
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Economic transition; Resource curse; Institutional quality;
Other versions of this item:
- Michael Alexeev, Robert Conrad, 2009. "The Natural Resource Curse and Economic Transition," Caepr Working Papers 2009-018, Center for Applied Economics and Policy Research, Economics Department, Indiana University Bloomington.
- P27 - Economic Systems - - Socialist Systems and Transition Economies - - - Performance and Prospects
- P28 - Economic Systems - - Socialist Systems and Transition Economies - - - Natural Resources; Environment
- O13 - Economic Development, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
- Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
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- Pomfret, Richard, 2012.
"Resource management and transition in Central Asia, Azerbaijan and Mongolia,"
Journal of Asian Economics,
Elsevier, vol. 23(2), pages 146-156.
- Richard Pomfret, 2011. "Resource Management and Transition in Central Asia, Azerbaijan, and Mongolia," Working Paper Series WP11-8, Peterson Institute for International Economics.
- Petar Stankov, 2010.
"Deregulation, Economic Growth and Growth Acceleration,"
CERGE-EI Working Papers
wp424, The Center for Economic Research and Graduate Education - Economic Institute, Prague.
- Stankov, Petar, 2010. "Deregulation, economic growth and growth acceleration," MPRA Paper 26485, University Library of Munich, Germany.
- Anca Cotet & Kevin K. Tsui, 2010. "Resource Curse or Malthusian Trap? Evidence from Oil Discoveries and Extractions," Working Papers 201001, Ball State University, Department of Economics, revised Mar 2010.
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