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The Resource Curse Exorcised: Evidence from a Panel of Countries

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  • Brock Smith

    (Department of Economics, University of California Davis)

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    Abstract

    This paper evaluates the impact of major natural resource discoveries since 1950 on GDP per capita and other economic and social indicators. Using panel fixed-effects estimation ad resource discoveries in countries that were not previously resource-rich, I find a positive effect on GDP per capita following extraction that persists in the long term, in contrast with much of the resource curse literature that uses cross-sectional designs. I also find positive effects on education levels, reductions in infant mortality, and negative effects on democratic institutions. I further test these outcomes with synthetic control analysis, yielding results consistent the fixed-effects model.

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    Bibliographic Info

    Paper provided by University of California, Davis, Department of Economics in its series Working Papers with number 133.

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    Length: 57
    Date of creation: 18 Mar 2013
    Date of revision:
    Handle: RePEc:cda:wpaper:13-3

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    Related research

    Keywords: Resource Curse; Oil; Economic Growth;

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    References

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    1. Claudio Bravo-Ortega & Jose De Gregorio, . "The Relative Richness of the Poor? Natural Resources, Human Capital and Economic Growth," Working Papers Central Bank of Chile 139, Central Bank of Chile.
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    Cited by:
    1. Brock Smith, 2014. "Dutch Disease and the Oil and Boom and Bust," OxCarre Working Papers 133, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.

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