Natural resources and the wealth of nations in a globalized world economy

Matteo Cervellati () and Piergiuseppe Fortunato ()

Cahiers de la Maison des Sciences Economiques from Université Panthéon-Sorbonne (Paris 1)

Abstract: We study the long run relationship between natural resources abundance and wealth of countries producing differentiated products sold in the international market. When the price (terms of trade) of national products depend on the human capital used to produce them, natural resources may lead to inferior long run production. This is the case if natural resources are neither irrelevant nor focal for the production possibilities of the economy.

Keywords: Natural resources; globalization; human capital. (search for similar items in EconPapers)
JEL-codes: O13 O42 F43 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dev and nep-env
Date: 2004-06
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Persistent link: http://EconPapers.repec.org/RePEc:mse:wpsorb:v04068

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