IDEAS home Printed from https://ideas.repec.org/p/por/fepwps/338.html
   My bibliography  Save this paper

Natural resources, economic growth and institutions – a panel approach

Author

Listed:
  • Nuno Torres

    (Faculdade de Economia, Universidade do Porto)

  • Óscar Afonso

    (CEF.UP and Faculdade de Economia, Universidade do Porto)

  • Isabel Soares

    (CEF.UP and Faculdade de Economia, Universidade do Porto)

Abstract

This study re-evaluates the impact of natural resources on growth using panel data and a factor-efficiency accounting framework. The resource-curse thesis is dismissed as capital efficiency is improved by geographically-concentrated natural resources, which hinder institutional quality in recent cross-section studies. This consensus does not hold in our case even when we use unadjusted resource proxies and the standard institutional approach, as both concentrated and diffuse resources show negative effects in low institutional-quality countries. Adequate fiscal policy seems to prevent the curse in that case, but reduces the positive effect of concentrated resources found with our adjusted proxy.

Suggested Citation

  • Nuno Torres & Óscar Afonso & Isabel Soares, 2009. "Natural resources, economic growth and institutions – a panel approach," FEP Working Papers 338, Universidade do Porto, Faculdade de Economia do Porto.
    • Handle: RePEc:por:fepwps:338
    as

    Download full text from publisher

    File URL: http://www.fep.up.pt/investigacao/workingpapers/09.10.20_wp338.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Natural resources; Economic growth; Institutions; Country Studies; Panel data;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • 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

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:por:fepwps:338. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/fepuppt.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.