In Search of the Missing Resource Curse

The debate over the curse of natural resources has haunted developing countries for decades if not centuries. A review of existing empirical evidence suggests that the curse remains elusive. The fragile negative effect of natural resources on economic growth might be due to international heterogeneity in the effects of natural resources on economic growth, to the use of weak indicators of natural resources that might be unrelated to relative natural-resource endowments, or to the inability of econometric analysis based on international data to capture historical processes. This paper defends a... Mehr ...

Verfasser: Lederman, Daniel
Maloney, William F.
Erscheinungsdatum: 2008
Verlag/Hrsg.: World Bank
Washington
DC
Schlagwörter: ABSOLUTE VALUE / AGRICULTURE / ANNUAL GROWTH / ANNUAL GROWTH RATE / AVERAGE ANNUAL / AVERAGE GROWTH / AVERAGE SHARE / BLACK MARKET / BLACK MARKET PREMIUM / CAPITAL ACCUMULATION / CLASSICAL ECONOMICS / COMMODITY PRICES / COMPARATIVE ADVANTAGE / CONSTANT PRICES / CONSTANT RETURNS / CONSTANT RETURNS TO SCALE / CONTROL VARIABLES / COUNTRY CHARACTERISTICS / COUNTRY ECONOMETRIC EVIDENCE / CREDIBILITY / CROSS-COUNTRY DATA / CROSS-COUNTRY INCOME / DEBT / DECISION MAKING / DEPENDENT VARIABLE / DEPENDENT VARIABLES / DEPRECIATION / DESCRIPTIVE STATISTICS / DEVELOPING COUNTRIES / DEVELOPMENT ECONOMICS / DEVELOPMENT POLICY / DEVELOPMENT SUCCESSES / DOMESTIC MARKET / DOMESTIC PRICES / DOWNWARD BIAS / DRAG ON GROWTH / DUMMY VARIABLE / DUMMY VARIABLES / DUTCH DISEASE / DYNAMIC VERSION / ECONOMETRIC ANALYSES / ECONOMETRIC ANALYSIS / ECONOMETRIC ISSUES / ECONOMETRIC MODELS / ECONOMETRICS / ECONOMIC ACTIVITY / ECONOMIC DEVELOPMENT / ECONOMIC GROWTH / ECONOMIC PERFORMANCE / ECONOMIC REFORM
Sprache: Englisch
Permalink: https://search.fid-benelux.de/Record/base-27465477
Datenquelle: BASE; Originalkatalog
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Link(s) : http://hdl.handle.net/10986/6901

The debate over the curse of natural resources has haunted developing countries for decades if not centuries. A review of existing empirical evidence suggests that the curse remains elusive. The fragile negative effect of natural resources on economic growth might be due to international heterogeneity in the effects of natural resources on economic growth, to the use of weak indicators of natural resources that might be unrelated to relative natural-resource endowments, or to the inability of econometric analysis based on international data to capture historical processes. This paper defends an empirical proxy for relative abundance of natural resources, which is based on standard growth theory. In turn, various econometric estimations are hopelessly deployed in the search for the missing resource curse. Some evidence suggests that natural resources might have large positive effects whose true magnitude remains unknown due to unresolved econometric issues.