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Sumpahan Sumber Alam dan Modal Insan: Satu Penilaian Semula

Author

Listed:
  • Kunchu, Jirsah A Bakar

    (Institut Kajian Malaysia dan Antarabangsa (IKMAS), Universiti Kebangsaan Malaysia)

  • Sarmidi, Tamat

    (Pusat Pengajian Ekonomi Fakulti Ekonomi dan Pengurusan Universiti Kebangsaan Malaysia)

Abstract

The motivation of this study is to provide an empirical evidence on the role of human capital in determining whether the natural resources are a “blessing†or “curse†. Sachs and Warner (1995) and other economists unanimously agree that natural resources do not help economic growth. However, until now not much is known about the relationship between natural source and income. We conjecture that natural resources may have negative impact on economic growth, but positive with real income. This paper aims to study the dynamics relationship between natural resources, human capital and income in the Organization of Islamic Countries (OIC) and non-OIC. Unlike most of the previous studies that emphasize on growth, this study emphasizes on the real income. The study considers the quality of human capital in determining the relationship between natural resources and national income. Using the dynamic panel environment in generalized method of moments (GMM) for 149 countries from 1980-2010, the result shows that the natural resources is a “grace†with respect to national income either for OIC or non-OIC. Interestingly, the study support the proposition that the human capital is a key factor in determining the “blessing†or “curse†for the country rich in natural resources. Abundant natural resources indeed a blessing for high quality human capital.

Suggested Citation

  • Kunchu, Jirsah A Bakar & Sarmidi, Tamat, 2015. "Sumpahan Sumber Alam dan Modal Insan: Satu Penilaian Semula," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 49(1), pages 83-92.
    • Handle: RePEc:ukm:jlekon:v:49:y:2015:i:1:p:83-92
    DOI: http://dx.doi.org/10.17576/JEM-2015-4901-08
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