Natural Resources, Education, and Economic Development
Economic growth since 1965 has varied inversely with the share of natural capital in national wealth across countries. Four main channels of transmission from abundant natural resources to stunted economic development are discussed: (a) the Dutch disease, (b) rent seeking, (c) overconfidence, and (d) neglect of education. Public expenditure on education relative to national income, expected years of schooling for girls, and gross secondary-school enrolment are all shown to be inversely related to the share of natural capital in national wealth across countries. Natural capital appears to crowd out human capital, thereby slowing down the pace of economic development.
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Economics Papers from University Paris Dauphine
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- repec:cup:macdyn:v:3:y:1999:i:2:p:204-25 is not listed on IDEAS
- Herbertsson, Tryggvi Thor & Skuladottir, Marta & Zoega, Gylfi, 2000. "Three Symptoms And A Cure: A Contribution To The Economics Of The Dutch Disease," CEPR Discussion Papers 2364, C.E.P.R. Discussion Papers.
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