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Escaping from the Resource Curse: Evidence from Botswana and the Rest of the World

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  • Atsushi Iimi

Abstract

It is commonly accepted that resource-rich economies tend to fail in accelerating growth because of various adverse effects of abundant natural resources, such as Dutch disease and rent seeking. Using the latest cross-country data, this study empirically readdresses the question of whether resource abundance can contribute to growth. It finds that governance determines the extent to which the growth effects of resource wealth can materialize. In developing countries in particular, the quality of regulation, such as the predictability of changes of regulations, and anticorruption policies, such as transparency and accountability in the public sector, are most important for effective natural resource management and growth. The paper also attempts to interpret the theme and results in the context of Botswana, which is endowed with abundant natural resources but has experienced the most remarkable economic performance in the region. IMF Staff Papers (2007) 54, 663–699. doi:10.1057/palgrave.imfsp.9450020

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Bibliographic Info

Article provided by Palgrave Macmillan in its journal IMF Staff Papers.

Volume (Year): 54 (2007)
Issue (Month): 4 (November)
Pages: 663-699

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Handle: RePEc:pal:imfstp:v:54:y:2007:i:4:p:663-699

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Cited by:
  1. Mohsen Mehrara, Mohsen & Alhosseini, Seyedmohammadsadegh & Bahramirad, Duman, 2008. "Resource curse and institutional quality in oil countries," MPRA Paper 16456, University Library of Munich, Germany, revised Mar 2009.
  2. John C Bluedorn & Rupa Duttagupta & Jaime Guajardo & Nkunde Mwase, 2013. "The Growth Comeback in Developing Economies: A New Hope or Back to the Future?," IMF Working Papers 13/132, International Monetary Fund.
  3. Oskenbayev, Yessengali & Yilmaz, Mesut & Abdulla, Kanat, 2013. "Resource concentration, institutional quality and the natural resource curse," Economic Systems, Elsevier, vol. 37(2), pages 254-270.
  4. Mohammad Reza Farzanegan, 2014. "Can Oil-Rich Countries Encourage Entrepreneurship? ‘Yes’, ‘No’ but not ‘Perhaps’," MAGKS Papers on Economics 201406, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
  5. Nasrollahi Shahri, Nima, 2010. "Natural resource wealth “a truly double edged sword?”: a comparative study between Iran and Norway," MPRA Paper 25639, University Library of Munich, Germany.
  6. Markwardt, Gunther & Farzanegan, Mohammad & Leßmann, Christian, 2013. "Natural-resource rents and internal conflicts - Can decentralization lift the curse?," Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79940, Verein für Socialpolitik / German Economic Association.
  7. Mohammad Reza Farzanegan, 2012. "Resource Wealth and Entrepreneurship: A Blessing or a Curse?," MAGKS Papers on Economics 201224, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
  8. Bjorvatn, Kjetil & Farzanegan, Mohammad Reza & Schneider, Friedrich, 2012. "Resource Curse and Power Balance: Evidence from Oil-Rich Countries," World Development, Elsevier, vol. 40(7), pages 1308-1316.
  9. Mahvash Saeed Qureshi, 2008. "Africa's Oil Abundance and External Competitiveness: Do Institutions Matter?," IMF Working Papers 08/172, International Monetary Fund.
  10. Antonio Estache & A. Iimi, 2008. "Procurement Efficiency for Infrastructure Development and Financial Needs Reassessed," Working Papers ECARES 2008_022, ULB -- Universite Libre de Bruxelles.
  11. Nir Klein, 2010. "The Linkage between the Oil and Non-oil Sectors--A Panel VAR Approach," IMF Working Papers 10/118, International Monetary Fund.

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