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Natural resources and reforms

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  • Amin, Mohammad
  • Djankov, Simeon

Abstract

The authors use a sample of 133 countries to investigate the link between the abundance of natural resources and micro-economic reforms. Previous studies suggest that natural resource abundance gives rise to governments that are less accountable to the public and states that are oligarchic, and that it leads to the erosion of social capital. These factors are likely to hamper economic reforms. The authors test this hypothesis using data on micro-economic reforms from the World Bank's Doing Business database. The results provide a robust support for the"resource curse"view: a move from the 75th percentile to the 25th percentile on resource abundance equals 10.9 percentage points more reform. This is a large effect given that the mean probability of reform in the sample is 57.1 percent.

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Bibliographic Info

Paper provided by The World Bank in its series Policy Research Working Paper Series with number 4882.

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Date of creation: 01 Mar 2009
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Handle: RePEc:wbk:wbrwps:4882

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Keywords: Economic Theory&Research; Emerging Markets; E-Business; Achieving Shared Growth; Inequality;

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References

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  1. Dani Rodrik, 1998. "Where Did All The Growth Go? External Shocks, Social Conflict, and Growth Collapses," NBER Working Papers 6350, National Bureau of Economic Research, Inc.
  2. Torvik, Ragnar, 2002. "Natural resources, rent seeking and welfare," Journal of Development Economics, Elsevier, Elsevier, vol. 67(2), pages 455-470, April.
  3. Dani Rodrik, 1999. "Democracies Pay Higher Wages," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 114(3), pages 707-738, August.
  4. Alesina, Alberto & Devleeschauwer, Arnaud & Wacziarg, Romain & Kurlat, Sergio & Easterly, William, 2003. "Fractionalization," Scholarly Articles 4553003, Harvard University Department of Economics.
  5. Levon Barseghyan, 2008. "Entry costs and cross-country differences in productivity and output," Journal of Economic Growth, Springer, Springer, vol. 13(2), pages 145-167, June.
  6. Gylfason, Thorvaldur & Herbertsson, Tryggvi Thor & Zoega, Gylfi, 1997. "A Mixed Blessing: Natural Resources and Economic Growth," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1668, C.E.P.R. Discussion Papers.
  7. Lant Pritchett & Michael Woolcock & Gwen Busby & Jonathan Isham, 2004. "The Varieties of Resource Experience: How Natural Resource Export Structures Affect the Political Economy of Economic Growth," Middlebury College Working Paper Series, Middlebury College, Department of Economics 0308r, Middlebury College, Department of Economics.
  8. Gylfason, Thorvaldur & Herbertsson, Tryggvi Thor & Zoega, Gylfi, 1999. "A Mixed Blessing," Macroeconomic Dynamics, Cambridge University Press, Cambridge University Press, vol. 3(02), pages 204-225, June.
  9. Jeffrey D. Sachs & Andrew M. Warner, 1995. "Natural Resource Abundance and Economic Growth," NBER Working Papers 5398, National Bureau of Economic Research, Inc.
  10. Anne O. Krueger, 1980. "Trade Policy as an Input to Development," NBER Working Papers 0466, National Bureau of Economic Research, Inc.
  11. Amin, Mohammad & Djankov, Simeon, 2009. "Democracy and Reforms," CEPR Discussion Papers, C.E.P.R. Discussion Papers 7151, C.E.P.R. Discussion Papers.
  12. Daron Acemoglu & Simon Johnson & James A. Robinson, 2000. "The Colonial Origins of Comparative Development: An Empirical Investigation," NBER Working Papers 7771, National Bureau of Economic Research, Inc.
  13. Stulz, Rene M. & Williamson, Rohan, 2003. "Culture, openness, and finance," Journal of Financial Economics, Elsevier, Elsevier, vol. 70(3), pages 313-349, December.
  14. Klapper, Leora & Laeven, Luc & Rajan, Raghuram, 2006. "Entry regulation as a barrier to entrepreneurship," Journal of Financial Economics, Elsevier, Elsevier, vol. 82(3), pages 591-629, December.
  15. Dani Rodrik, 1996. "Understanding Economic Policy Reform," Journal of Economic Literature, American Economic Association, vol. 34(1), pages 9-41, March.
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Cited by:
  1. Hans Pitlik & Björn Frank & Mathias Firchow, 2010. "The demand for transparency: An empirical note," The Review of International Organizations, Springer, Springer, vol. 5(2), pages 177-195, June.
  2. Alexander Plekhanov & Sergei Guriev & Konstantin Sonin, 2009. "Development based on commodity revenues," Working Papers, European Bank for Reconstruction and Development, Office of the Chief Economist 108, European Bank for Reconstruction and Development, Office of the Chief Economist.
  3. Asel Isakova & Alexander Plekhanov & Jeromin Zettelmeyer, 2012. "Managing Mongolia’s resource boom," Working Papers, European Bank for Reconstruction and Development, Office of the Chief Economist 138, European Bank for Reconstruction and Development, Office of the Chief Economist.

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