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Does the ‘Resource Curse’ hold for Growth in Genuine Income as well?

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Author Info
Eric Neumayer

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Abstract

Existing studies analyzing the so-called ‘resource curse’ hypothesis regress growth in gross domestic product (GDP) on some measure of resource-intensity. This is problematic as GDP counts natural and other capital depreciation as income. Deducting depreciation from GDP to arrive at genuine income, we test whether the ‘curse’ still holds true. We find supporting evidence, but the growth disadvantage of resource- intensive economies is slightly weaker in terms of genuine income than GDP. We suggest that this provides additional, but somewhat weak and limited, evidence in support of those who argue that the ‘curse’ is partly due to unsustainable over-consumption.

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Paper provided by EconWPA in its series Others with number 0312002.

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Date of creation: 24 Dec 2003
Date of revision: 18 May 2004
Handle: RePEc:wpa:wuwpot:0312002

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Related research
Keywords: resource curse hypothesis; natural capital; depreciation; genuine income;

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Find related papers by JEL classification:
P - Economic Systems
Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics
Z - Other Special Topics

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Jean-Philippe Stijns, 2001. "Natural Resource Abundance And Economic Growth Revisited," Development and Comp Systems 0103001, EconWPA. [Downloadable!]
  2. Santopietro, George D., 1998. "Alternative methods for estimating resource rent and depletion cost: the case of Argentina's YPF," Resources Policy, Elsevier, vol. 24(1), pages 39-48, March. [Downloadable!] (restricted)
  3. W.F. Maloney, 2002. "Innovation and Growth in Resource Rich Countries," Working Papers Central Bank of Chile 148, Central Bank of Chile. [Downloadable!]
  4. Hartwick, John M, 1977. "Intergenerational Equity and the Investing of Rents from Exhaustible Resources," American Economic Review, American Economic Association, vol. 67(5), pages 972-74, December. [Downloadable!] (restricted)
    Other versions:
  5. Jeffrey D. Sachs & Andrew Warner, 1995. "Economic Reform and the Process of Global Integration," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1995-1), pages 1-118. [Downloadable!]
  6. Arvind Subramanian & Xavier Sala-i-Martin, 2003. "Addressing the Natural Resource Curse: An Illustration from Nigeria," IMF Working Papers 03/139, International Monetary Fund. [Downloadable!]
    Other versions:
  7. Davis, Graham A., 1995. "Learning to love the Dutch disease: Evidence from the mineral economies," World Development, Elsevier, vol. 23(10), pages 1765-1779, October. [Downloadable!] (restricted)
  8. Stijns, Jean-Philippe C., 2001. "Natural Resource Abundance And Economic Growth Revisited," Berkeley Economics Dissertations-in-Progress Series 25127, University of California, Berkeley, Department of Agricultural and Resource Economics. [Downloadable!]
  9. Young, Carlos Eduardo Frickmann & da Motta, Ronaldo Seroa, 1995. "Measuring sustainable income from mineral extraction in Brazil," Resources Policy, Elsevier, vol. 21(2), pages 113-125, June. [Downloadable!] (restricted)
  10. Motta, Ronaldo Seroa Da & Amaral, Claudio A. Ferraz Do, 2000. "Estimating timber depreciation in the Brazilian Amazon," Environment and Development Economics, Cambridge University Press, vol. 5(01), pages 129-142, February. [Downloadable!]
  11. Vincent, Jeffrey R., 1997. "Resource depletion and economic sustainability in Malaysia," Environment and Development Economics, Cambridge University Press, vol. 2(01), pages 19-37, February. [Downloadable!]
  12. Jonathan Isham & Michael Woolcock & Lant Pritchett & Gwen Busby, 2003. "The Varieties of Resource Experience: How Natural Resource Export Structures Affect the Political Economy of Economic Growth," Middlebury College Working Paper Series 0308, Middlebury College, Department of Economics. [Downloadable!]
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  13. Sachs, Jeffrey D. & Warner, Andrew M., 2001. "The curse of natural resources," European Economic Review, Elsevier, vol. 45(4-6), pages 827-838, May. [Downloadable!] (restricted)
  14. Jeffrey Sachs & Andrew Warner, 1995. "Economic Reform and the Progress of Global Integration," Harvard Institute of Economic Research Working Papers 1733, Harvard - Institute of Economic Research.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Christa N. Brunnschweiler & Erwin H. Bulte, 2006. "The Resource Curse Revisited and Revised: A Tale of Paradoxes and Red Herrings," Economics working paper series 06/61, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich. [Downloadable!]
    Other versions:
  2. Sophia du Plessis, 2006. "Institutions and Institutional Change in Zambia," Working Papers 16/2006, Stellenbosch University, Department of Economics. [Downloadable!]
  3. Christa N. Brunnschweiler, 2006. "Cursing the blessings? Natural resource abundance, institutions, and economic growth," Economics working paper series 06/51, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich. [Downloadable!]
    Other versions:
  4. Rambaldi, Alicia N. & Hall, Greg & Brown, Richard P.C., 2006. "Re-testing the Resource Curse Hypothesis Using Panel Data and an Improved Measure of Resource Intensity," 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia 25289, International Association of Agricultural Economists. [Downloadable!]
  5. Valeria Costantini & Salvatore Monni, 2006. "Environment, Human Development and Economic Growth," Working Papers 2006.35, Fondazione Eni Enrico Mattei. [Downloadable!]
    Other versions:
  6. Lederman, Daniel & Maloney, William F., 2008. "In search of the missing resource curse," Policy Research Working Paper Series 4766, The World Bank. [Downloadable!]
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