Resource-richness and economic growth in contemporary U.S

Richard Jaimes and Reyer Gerlagh

Energy Economics, 2020, vol. 89, issue C

Abstract: We study the effects of energy innovation and policy on income growth. Between 1997 and 2014, US corn, soybean, and cotton production almost fully converted to genetically modified crops. Starting around 2007, improved tight oil and shale gas technologies turned the declining US fossil fuel production into a booming industry. We study the effects of these two resource technology revolutions on US state income. We find that the shale revolution increased income in states abundant in oil and gas resources. States dependent on agricultural production also saw an increase in income, which we, however, attribute not only to the GM innovation but to a demand increase brought by the Energy Policy Act of 2005.

Keywords: Natural resources; Economic growth; Resource curse; Resource blessing (search for similar items in EconPapers)
JEL-codes: C21 C23 H72 I25 O13 Q33 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Related works:
Working Paper: Resource-Richness and Economic Growth in Contemporary U.S (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:89:y:2020:i:c:s014098832030150x

DOI: 10.1016/j.eneco.2020.104810

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