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Innovation and Growth in Resource Rich Countries

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  • W.F. Maloney

Abstract

Numerous resource rich economies have been far more dynamic than those in Latin America and there is little long term evidence that natural resource abundant countries generally under perform. But two factors historically distinguish Latin America from the more successful experiences of Scandinavia or Australia. First, deficient national "learning" or "innovative" capacity arising from low investment in human capital and scientific infrastructure led to weak ability to innovate or even take advantage of technological advances abroad. Second, the period of inward looking industrialization created a sector whose growth depended on artificial monopoly rents rather than the quasi-rents arising from technological adoption, and at the same time undermined resource intensive sectors that had the potential for dynamic growth.

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Bibliographic Info

Paper provided by Central Bank of Chile in its series Working Papers Central Bank of Chile with number 148.

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Date of creation: Feb 2002
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Handle: RePEc:chb:bcchwp:148

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  1. Peter J. Wylie, 1990. "Indigenous Technological Adaptation in Canadian Manufacturing, 1900-1929," Canadian Journal of Economics, Canadian Economics Association, vol. 23(4), pages 856-72, November.
  2. Robert E. Hall & Charles I. Jones, 1999. "Why Do Some Countries Produce So Much More Output Per Worker Than Others?," The Quarterly Journal of Economics, MIT Press, vol. 114(1), pages 83-116, February.
  3. Paul Romer, 1989. "Endogenous Technological Change," NBER Working Papers 3210, National Bureau of Economic Research, Inc.
  4. Meredith, D., 1995. "The Role of Education and Heath Services in the Economic Development of Australia and Argentina: 1880-1940," Papers 95/34, New South Wales - School of Economics.
  5. Douglas A. Irwin, 2000. "How Did the United States Become a Net Exporter of Manufactured Goods?," NBER Working Papers 7638, National Bureau of Economic Research, Inc.
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Cited by:
  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.
  2. SAIBU, Olufemi Muibi, 2012. "Energy Resources, Domestic Investment and Economic Growth: Empirical Evidence from Nigeria," MPRA Paper 34392, University Library of Munich, Germany.
  3. World Bank, 2004. "Chile : New Economy Study, Volume 2. Background Documents," World Bank Other Operational Studies 14711, The World Bank.

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