Environmental Valuation & Cost-Benefit News
Cursing the Blessings? Natural Resource Abundance, Institutions, and Economic Growth
03/08/08
10:13:31 am, by damageva 
, 147 words, 136 views 
Categories: General, Academic Study/Journal Article, Economic Development
Cursing the Blessings? Natural Resource Abundance, Institutions, and Economic Growth
Summary: Since Sachs and Warner’s [Sachs, J. D., & Warner, A. M. (1995a). Natural resource abundance and economic growth. NBER working paper, no. 5398] contribution, there has been a lively debate on the so-called natural resource curse. This paper re-examines the effects of natural resource abundance on economic growth using new measures of resource endowment and considering the role of institutional quality. Christa N. Brunnschweiler finds a positive direct empirical relationship between natural resource abundance and economic growth. In both OLS and 2SLS regressions, the positive resource effects are particularly strong for subsoil wealth. Her results also show no evidence of negative indirect effects of natural resources through the institutional channel.
Keywords: natural resources; resource curse; economic growth; institutional quality
by Christa N. Brunnschweiler; ETH Zurich, Switzerland
World Development via Elsevier Science Direct www.ScienceDirect.com
Volume 36, Issue 3; March, 2008; Pages 399-419
http://dx.doi.org/10.1016/j.regsciurbeco.2008.01.007
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