Resource curse hypothesis and economic growth: A global analysis using bootstrapped panel quantile regression analysis

Yating Guo, Wing-Keung Wong, Nan Su, Wafa Ghardallou, Juan Carlos Orosco Gavilán, Pham Thi Minh Uyen and Phan The Cong

Resources Policy, 2023, vol. 85, issue PA

Abstract: To achieve potential economic growth is a worldwide challenge. The mentioned study aims to evaluate the impact of country's natural resources on economic growth. This analysis seeks to empirically investigate the ‘Resource Curse Hypothesis’. To ensure the purpose of the study, the work utilized panel data of 161countries from 1980 to 2021. Estimation is conducted using the panel ordinary least squares (OLS) and Bootstrapped Panel Quantile Regression (BPQR) methods. In global panel data, the outcomes indicate that natural resources playhazardous role in explaining the economic growth at 25th quantile, on the other side, in remaining quantiles (50th and75th) the natural resources induce the growth. In addition to this, the outcomes are sensitive to developed and developing economies. The findings also imply that capital formation, financial development, trade and government expenditure are constructive determinants of economic growth.

Keywords: Natural resources; Resource curse hypothesis; Financial development; Economic growth; Bootstrapped panel quantile regression (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:85:y:2023:i:pa:s0301420723005019

DOI: 10.1016/j.resourpol.2023.103790

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