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Natural Resources, State Ownership, and Economic Development

Markus Brückner, Chadi Bou Habib and Martin Lokanc

ANU Working Papers in Economics and Econometrics from Australian National University, College of Business and Economics, School of Economics

Abstract: This paper revisits the relationship between countries' natural resource abundance and economic development. We find that natural resources are supportive of pro-poor, inclusive, long-term economic growth. Cross-country regressions show that: (i) countries with greater natural resource abundance have on average significantly higher levels of GDP per capita; (ii) poverty rates are significantly lower in resource abundant countries; (iii) natural resource abundance has a significant positive effect on countries' Human Development Index. We show that state ownership is a significant transmission channel through which countries' natural resource abundance affects economic development. This is particularly true in countries that combine above-median state ownership and highly performing policies and institutions.

Keywords: Natural Resources; National Income; Poverty; Human Development; State Ownership (search for similar items in EconPapers)
JEL-codes: C3 O1 O4 Q3 (search for similar items in EconPapers)
Date: 2023-10
New Economics Papers: this item is included in nep-dev, nep-env and nep-gro
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Persistent link: https://EconPapers.repec.org/RePEc:acb:cbeeco:2023-694

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