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The resource curse: A statistical mirage?

Alexander James

Journal of Development Economics, 2015, vol. 114, issue C, 55-63

Abstract: A surprising feature of resource-rich economies is slow growth. It is often argued that natural-resource production impedes development by creating market or institutional failures. This paper establishes an alternative explanation—a slow-growing resource sector. A declining resource sector is disproportionately reflected in resource-dependent countries. Additionally, there is little evidence that resource dependence impedes growth in non-resource sectors. More generally, this paper illustrates the importance of considering industry composition in cross-country growth regressions.

Keywords: Resource dependence; Economic growth; Resource curse (search for similar items in EconPapers)
Date: 2015
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Working Paper: The Resource Curse: A Statistical Mirage? (2014) Downloads
Working Paper: The Resource Curse: A Statistical Mirage? (2014) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:eee:deveco:v:114:y:2015:i:c:p:55-63

DOI: 10.1016/j.jdeveco.2014.10.006

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