Economics at your fingertips  

Natural resources fund types and capital accumulation: A comparative analysis

Youmanli Ouoba

Resources Policy, 2020, vol. 66, issue C

Abstract: The growing interest in resource funds of resource-rich countries, especially oil-producing countries, has been a focus of empirical research, questioning the relevance of such funds. Several countries established savings/stabilization or investment funds, while others have not. This paper is the first to focus on the comparative analysis of effects of resource fund types on the accumulation of capital and economic growth in resource-rich countries. Using a panel of 23 resource-rich countries worldwide over 2000–2014 and several econometric methods, robust evidence is observed for countries with stabilization/savings funds experiencing greater development of human capital and accumulation of tangible assets than those with investment funds or without resource funds. This finding is particularly robust for oil-producing countries, where having no resource funds is also associated with higher growth rates compared to other cases (i.e., investment, and savings/stabilization funds). The political implications are profound in the context where certain countries are in the process of permanently changing their fund types, while others are in the process of establishing funds.

Keywords: Resources fund types; Physical/human capital accumulation; Economic growth; Panel (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

DOI: 10.1016/j.resourpol.2020.101635

Access Statistics for this article

Resources Policy is currently edited by R. G. Eggert

More articles in Resources Policy from Elsevier
Bibliographic data for series maintained by Haili He ().

Page updated 2021-01-14
Handle: RePEc:eee:jrpoli:v:66:y:2020:i:c:s030142071930772x