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¿Cuál es el destino de los paises abundantes en recursos minerales? Nueva evidencia sobre la relación entre recursos naturales, instituciones y crecimiento económico

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  • Cecilia Perla
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    Abstract

    Economies that have large endowments of natural resources, especially the ones that rely on oil and minerals, are often regarded as unlikely to develop, or even seen as cursed by nature. It is said that the mineral rents, which could be used to trigger a growth process, have in practice several negative effects that by and large counteract their potential positive contributions. Nevertheless, it seems that these results are sensitive to the measures of resource abundante that are used, and mineral resource abundance might not be necessarily growth retarding. This study will evaluate if the arguments to uphold that mineral rich countries are doomed to low economic growth are strong and sound by testing a number of robustness checks on the standard models of resources and growth. We test if there are any specification bias in the model proposed in particular of omitted variablesï‚¾ï€ and if the resource curse thesis remains robust when using other measures of resource abundance, and when testing specifically for a mineral resource curse.

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    Bibliographic Info

    Paper provided by Departamento de Economía - Pontificia Universidad Católica del Perú in its series Documentos de Trabajo with number 2005-242.

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    Length: 65 pages
    Date of creation: 2005
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    Publication status: published
    Handle: RePEc:pcp:pucwps:wp00242

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    1. Gylfason, Thorvaldur, 2001. "Natural resources, education, and economic development," European Economic Review, Elsevier, vol. 45(4-6), pages 847-859, May.
    2. Powell, Andrew, 1991. "Commodity and Developing Country Terms of Trade: What Does the Long Run Show?," Economic Journal, Royal Economic Society, vol. 101(409), pages 1485-96, November.
    3. Osmel Manzano & Roberto Rigobon, 2001. "Resource Curse or Debt Overhang?," NBER Working Papers 8390, National Bureau of Economic Research, Inc.
    4. Ramey, Garey & Ramey, Valerie A, 1995. "Cross-Country Evidence on the Link between Volatility and Growth," American Economic Review, American Economic Association, vol. 85(5), pages 1138-51, December.
    5. Joshua Aizenman & Brian Pinto, 2004. "Managing Volatility and Crises: A Practitioner's Guide Overview," NBER Working Papers 10602, National Bureau of Economic Research, Inc.
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