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The Paradox of Plenty: A Meta-Analysis

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  • Magali Dauvin
  • David Guerreiro

Abstract

Since Sachs and Warners seminal paper in 1995, a conventional wisdom has spread in the academic literature stating that a high endowment in natural resources may be detrimental for growth. The great heterogeneity of development paths followed among resource-rich countries has shown that the resource curse was not always inevitable, and that there existed ways to make the most of ones natural wealth. We identified three sources of heterogeneity in the literature: the use of abundance and intensity measures, the account for appropriability aspects of resources and finally, the role of institutions. In this paper, we aim at providing quantitative results on the magnitude of the link between natural resources and growth found in the literature, as well as discussing, on quantitative bases, whether the sources of heterogeneity are significant. To this end, we implement a meta-analysis based on 67 empirical studies that investigate the link between natural resources and growth, totaling 1405 estimates. The results show a "soft" curse that may be reverted together with the importance of institutions in mitigating the curse.

Suggested Citation

  • Magali Dauvin & David Guerreiro, 2016. "The Paradox of Plenty: A Meta-Analysis," EconomiX Working Papers 2016-14, University of Paris Nanterre, EconomiX.
  • Handle: RePEc:drm:wpaper:2016-14
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    More about this item

    Keywords

    Meta-analysis; Resource Curse; Natural Resources; Appropriability; Institutions.;
    All these keywords.

    JEL classification:

    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products

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