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The Impact of Natural Resources on Innovation

Author

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  • Vahid Omidi

    (Faculty of Economics and Social Sciences, University of Bu-Ali Sina, Hamedan, Iran.)

  • Abolfazl Shahabadi

    (Faculty of Social Sciences and Economics, University of Alzahra, Tehran, Iran.)

  • Nader Mehregan

    (Faculty of Economics and Social Sciences, University of Bu-Ali Sina, Hamedan, Iran.)

Abstract

Nowadays, innovation considered as the most important factor, which can affect economic growth extraordinary. Therefore, investigating the effect of variables affecting innovation has priority. In this study, we try to investigate 1) the natural resource curse hypothesis and 2) the effect of institutional quality on the way in which natural resources affects innovation. To investigate these goals, we choose countries that categorized as the efficiency-driven based on the global competitiveness report (2017) during the period 2011-2016 and use GMM estimator to estimate the model. The results show that while the effect of natural resources on innovation is negative in those countries, which confirms the resource curse hypothesis, but the impact of natural resources interaction with institutional quality is positive. These results emphasizing the importance of institutional quality as a groundwork for the way in which other variables can be effective.

Suggested Citation

  • Vahid Omidi & Abolfazl Shahabadi & Nader Mehregan, 2019. "The Impact of Natural Resources on Innovation," Iranian Economic Review (IER), Faculty of Economics,University of Tehran.Tehran,Iran, vol. 23(3), pages 675-691, Summer.
    • Handle: RePEc:eut:journl:v:23:y:2019:i:3:p:675
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    Cited by:

    1. Alvarado, Rafael & Murshed, Muntasir & Cifuentes-Faura, Javier & Işık, Cem & Razib Hossain, Mohammad & Tillaguango, Brayan, 2023. "Nexuses between rent of natural resources, economic complexity, and technological innovation: The roles of GDP, human capital and civil liberties," Resources Policy, Elsevier, vol. 85(PA).

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