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The curse of natural resources in the transition economies

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  • Tobias Kronenberg

Abstract

The curse of natural resources is a well-documented phenomenon for 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. Copyright (c) The European Bank for Reconstruction and Development, 2004.

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  • Tobias Kronenberg, 2004. "The curse of natural resources in the transition economies," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 12(3), pages 399-426, September.
  • Handle: RePEc:bla:etrans:v:12:y:2004:i:3:p:399-426
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