A curse or a blessing? Natural resources in a multiple growth regimes analysis
AbstractThe literature on the impact of an abundance of natural resources on economic performance remains inconclusive. In this article we consider the possibility that countries may follow different growth regimes, and test the hypothesis that whether natural resources are a curse or a blessing depends on the growth regime to which an economy belongs. We follow recent work that has used a mixture-of-regressions method to identify different growth regimes, and find two regimes such that in one regime resources have a positive impact on growth, while in the other they have a negative impact or at best have no impact on growth. Our analysis of the determinants of whether a country belongs or not to the blessed resources regime indicates that the level of democracy plays an important role while education and economic institutions have no effect.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics.
Volume (Year): 45 (2013)
Issue (Month): 26 (September)
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Other versions of this item:
- Maty Konte, 2012. "A Curse or a Blessing? Natural Resources in a Multiple Growth Regimes Analysis," AMSE Working Papers 1218, Aix-Marseille School of Economics, Marseille, France.
- Maty Konte, 2012. "A Curse or a Blessing? Natural Resources in a Multiple Growth Regimes Analysis," Working Papers halshs-00793217, HAL.
- O13 - Economic Development, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
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