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Natural Resources: Are They Really a Curse?

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  • Alexandr Cerny
  • Randall K. Filer

Abstract

The curse of natural resources detected in numerous cross-country growth regressions isquestioned. Although natural resource dependence is associated with slow economic growth, there is no evidence that natural resource abundance per se is negatively related to growth. Thus, the supposed link between resource dependence and growth arises not from the numerator of the dependence measures (i.e. resources themselves) but rather, because of the inherent relationship between slow growth and a small non-resource sector caused by other undetermined characteristics of the economy.

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Bibliographic Info

Paper provided by The Center for Economic Research and Graduate Education - Economic Institute, Prague in its series CERGE-EI Working Papers with number wp321.

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Date of creation: Mar 2007
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Handle: RePEc:cer:papers:wp321

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Keywords: Natural resources; Economic growth; Institutions.;

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  1. Easterly, William, 2000. "the middle class consensus and economic development," Policy Research Working Paper Series 2346, The World Bank.
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Cited by:
  1. Ruslan Aliyev, 2012. "Monetary Policy in Resource-Rich Developing Economies," CERGE-EI Working Papers wp466, The Center for Economic Research and Graduate Education - Economic Institute, Prague.

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