The Curse of Natural Resources in the Transition Econonmies of the Former East
AbstractThe curse of natural resources is a well-documented phenomenon in developing countries. Economies that are richly endowed with natural resources tend to grow slowly. Among the transition economies of the former “Eastern Bloc”, a similar pattern can be observed. This paper shows that a large part of the variation in growth rates among the transition economies can be attributed to the curse of natural resources. After controlling for numerous other factors, there is still a strong negative correlation between natural resource abundance and economic growth. Among the transition economies the prime reason for the curse of natural resource is corruption. Other reasons for the curse of natural resources may be Dutch disease effect and a neglect of education.
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Bibliographic InfoPaper provided by EconWPA in its series GE, Growth, Math methods with number 0305002.
Length: 39 pages
Date of creation: 19 May 2003
Date of revision:
Note: Type of Document - Acrobat PDF; prepared on IBM PC; pages: 39; figures: included
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natural resources; transition economies; growth; corruption; dutch disease; education;
Find related papers by JEL classification:
- O0 - Economic Development, Technological Change, and Growth - - General
- P2 - Economic Systems - - Socialist Systems and Transition Economies
- Q0 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General
This paper has been announced in the following NEP Reports:
- NEP-AGR-2003-07-29 (Agricultural Economics)
- NEP-ALL-2003-05-29 (All new papers)
- NEP-DEV-2003-05-29 (Development)
- NEP-EEC-2003-05-29 (European Economics)
- NEP-RES-2003-05-29 (Resource Economics)
- NEP-TRA-2003-05-29 (Transition Economics)
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