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 paper 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 economy belongs. We follow recent work that has used a mixture of regression 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 InfoPaper provided by Aix-Marseille School of Economics, Marseille, France in its series AMSE Working Papers with number 1218.
Length: 27 pages
Date of creation: Mar 2012
Date of revision:
Natural Resources; Mixture of regression; Multiple equilibria.;
Other versions of this item:
- Maty Konte, 2013. "A curse or a blessing? Natural resources in a multiple growth regimes analysis," Applied Economics, Taylor & Francis Journals, vol. 45(26), pages 3760-3769, September.
- 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
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-10-27 (All new papers)
- NEP-ENE-2012-10-27 (Energy Economics)
- NEP-ENV-2012-10-27 (Environmental Economics)
- NEP-FDG-2012-10-27 (Financial Development & Growth)
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