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A survey of literature on the resource curse: critical analysis of the main explanations, empirical tests and resource proxies

Author

Listed:
  • Nuno Torres

    (CEF.UP and FEP, Universidade do Porto)

  • Óscar Afonso

    (CEF.UP and FEP, Universidade do Porto)

  • Isabel Soares

    (CEF.UP and FEP, Universidade do Porto)

Abstract

This paper presents a survey of literature on the `resource curse', a puzzling empirical result that associates natural resource riches with lower economic growth. We show the main theories that attempt to explain the curse ? ranging from the structuralist theses of the 1950s to recent and more consensual institutional causes ?, and present a critical review of results in view of theory, estimation procedures and used resource proxies.

Suggested Citation

  • Nuno Torres & Óscar Afonso & Isabel Soares, 2013. "A survey of literature on the resource curse: critical analysis of the main explanations, empirical tests and resource proxies," CEF.UP Working Papers 1302, Universidade do Porto, Faculdade de Economia do Porto.
    • Handle: RePEc:por:cetedp:1302
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    2. Satti, Saqlain Latif & Farooq, Abdul & Loganathan, Nanthakumar & Shahbaz, Muhammad, 2014. "Empirical evidence on the resource curse hypothesis in oil abundant economy," Economic Modelling, Elsevier, vol. 42(C), pages 421-429.
    3. Sylvain Gibaud & Jorgen W. Weibull, 2017. "Accumulation of individual fitness or wealth as a population game," Papers 1707.00996, arXiv.org, revised Aug 2021.
    4. Rae, Allan N., 2014. "What’s wrong with being an agricultural economy?," 2014 Conference, August 28-29, 2014, Nelson, New Zealand 187403, New Zealand Agricultural and Resource Economics Society.
    5. Siakwah, Pius, 2017. "Are natural resource windfalls a blessing or a curse in democratic settings? Globalised assemblages and the problematic impacts of oil on Ghana's development," Resources Policy, Elsevier, vol. 52(C), pages 122-133.
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    9. Villalba-Eguiluz, C. Unai & Etxano, Iker, 2017. "Buen Vivir vs Development (II): The Limits of (Neo-)Extractivism," Ecological Economics, Elsevier, vol. 138(C), pages 1-11.
    10. Lifshits, Marina, 2013. "The influence of migration and natural reproduction of labor force upon economic growth in the countries of the world," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 31(3), pages 32-51.
    11. Adeolu O. Adewuyi & Ebenezer Olubiyi, 2020. "Do Governance Institutions Matter for Trade Flows between Sub-Saharan Africa and its Trading Partners?," Working Papers 376, African Economic Research Consortium, Research Department.
    12. Barrak Ghanim Algharabali & Saud Asaad Al-Thaqeb, 2023. "The Natural Resource Curse: Is It Really a Curse?," International Journal of Energy Economics and Policy, Econjournals, vol. 13(4), pages 237-245, July.
    13. Gasmi, Farid & Recuero Virto, Laura & Couvet, Denis, 2022. "Empirical analysis of the anthropogenic pressure on the mangrove blue carbon-economic growth relationship," TSE Working Papers 22-1307, Toulouse School of Economics (TSE).
    14. Gasmi, Farid & Recuero Virto, Laura & Couvet, Denis, 2023. "An empirical analysis of economic growth in countries exposed to coastal risks - Implications for their ecosystems," TSE Working Papers 23-1399, Toulouse School of Economics (TSE).

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    More about this item

    Keywords

    Resource curse; Natural resources; Economic growth; Institutions; Survey.;
    All these keywords.

    JEL classification:

    • N50 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - General, International, or Comparative
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O50 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - General

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