Does the "Resource Curse" hold for Growth in Genuine Income as Well?
AbstractExisting studies analyzing the so-called âresource curseâ hypothesis regress growth in gross domestic product (GDP) on some measure of resource-intensity. This is problematic as GDP counts natural and other capital depreciation as income. Deducting depreciation from GDP to arrive at genuine income, we test whether the âcurseâ still holds true. We find supporting evidence, but the growth disadvantage of resource- intensive economies is slightly weaker in terms of genuine income than GDP. We suggest that this provides additional, but somewhat weak and limited, evidence in support of those who argue that the âcurseâ is partly due to unsustainable over-consumption.
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Bibliographic InfoArticle provided by Elsevier in its journal World Development.
Volume (Year): 32 (2004)
Issue (Month): 10 (October)
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Web page: http://www.elsevier.com/locate/worlddev
Other versions of this item:
- Eric Neumayer, 2003. "Does the ‘Resource Curse’ hold for Growth in Genuine Income as well?," Others 0312002, EconWPA, revised 18 May 2004.
- P - Economic Systems
- Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics
- Z - Other Special Topics
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