The natural resource curse and economic transition
Michael Alexeev () and
Economic Systems, 2011, vol. 35, issue 4, 445-461
Using cross-country regressions, we examine the relationship between “point-source” resource abundance and economic growth, quality of institutions, investment in human and physical capital, and social welfare (life expectancy and infant mortality) for all countries and for the economies in transition. Contrary to most literature, we find little evidence of a natural resource curse for all countries. Only the “voice and accountability” measure of institutional quality is negatively and significantly affected by oil wealth. In the economies in transition, there is some evidence that natural resource wealth is associated with lower primary school enrollment and life expectancy and higher infant mortality compared to other resource rich countries. Compared to other economies in transition, however, natural resource abundant transitional economies are not significantly worse off with respect to our indicators.
Keywords: Economic transition; Resource curse; Institutional quality (search for similar items in EconPapers)
JEL-codes: P27 P28 O13 Q32 (search for similar items in EconPapers)
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Working Paper: The Natural Resource Curse and Economic Transition (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecosys:v:35:y:2011:i:4:p:445-461
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