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Curse or blessing: economic growth and natural resources (Comparison of the Development of Botswana, Canada, Nigeria and Norway in the Early 21st Century)

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  • Zubikova, Adela

Abstract

This paper aims to review the concept of resource curse, to summarize key points from existing literature and apply them on four selected countries at the beginning of the new millennium. The practical part investigates several hypotheses established by comparing research papers on impact of natural resources on the example of two developing countries (Nigeria and Botswana) and two developed countries (Canada and Norway). Specifically, the validity of the Prebisch-Singer hypothesis, Dutch disease symptoms and several hypotheses about a negative impact on political institutions have been verified. The results confirm the Prebisch-Singer hypothesis for selected commodities in the long term and some of the symptoms of Dutch disease in period 2000–2016 in the selected countries. Hypotheses about the impact on the political institutions have not been confirmed. The prices of commodities were identified as a key transmission channel of resource curse in the short run.

Suggested Citation

  • Zubikova, Adela, 2018. "Curse or blessing: economic growth and natural resources (Comparison of the Development of Botswana, Canada, Nigeria and Norway in the Early 21st Century)," Agricultural and Resource Economics: International Scientific E-Journal, Agricultural and Resource Economics: International Scientific E-Journal, vol. 4(01), March.
    • Handle: RePEc:ags:areint:270280
    DOI: 10.22004/ag.econ.270280
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    References listed on IDEAS

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    1. Frederick van der Ploeg, 2011. "Natural Resources: Curse or Blessing?," Journal of Economic Literature, American Economic Association, vol. 49(2), pages 366-420, June.
    2. Xavier Sala-i-Martin & Arvind Subramanian, 2013. "Addressing the Natural Resource Curse: An Illustration from Nigeria," Journal of African Economies, Centre for the Study of African Economies, vol. 22(4), pages 570-615, August.
    3. Jeffrey D. Sachs & Andrew M. Warner, 1995. "Natural Resource Abundance and Economic Growth," NBER Working Papers 5398, National Bureau of Economic Research, Inc.
    4. Frederick van der Ploeg & Steven Poelhekke, 2009. "Volatility and the natural resource curse," Oxford Economic Papers, Oxford University Press, vol. 61(4), pages 727-760, October.
    5. Prebisch, Raúl, 1950. "The economic development of Latin America and its principal problems," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 29973, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    6. Arezki, Rabah & Hadri, Kaddour & Loungani, Prakash & Rao, Yao, 2014. "Testing the Prebisch–Singer hypothesis since 1650: Evidence from panel techniques that allow for multiple breaks," Journal of International Money and Finance, Elsevier, vol. 42(C), pages 208-223.
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    Cited by:

    1. Alssadek, Marwan & Benhin, James, 2021. "Oil boom, exchange rate and sectoral output: An empirical analysis of Dutch disease in oil-rich countries," Resources Policy, Elsevier, vol. 74(C).

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