Crowding-out Effect or Institutions? The Resource Curse Revisited with an Investigation of U.S. States

Na Zuo () and Jack Schieffer

No 142974, 2013 Annual Meeting, February 2-5, 2013, Orlando, Florida from Southern Agricultural Economics Association

Abstract: The phenomenon of low economic growth in resource-rich regions is recognized as the “resource curse”. This research empirically shows the existence of a resource curse at the U.S. state level. Of two widely offered explanations for the resource curse, our analysis supports the crowding-out effect in the U.S. rather than the institutional explanation. Investment and R&D are the two main crowded-out factors.

Keywords: Institutional and Behavioral Economics; International Development; Resource/Energy Economics and Policy (search for similar items in EconPapers)
Pages: 21
Date: 2013
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:saea13:142974

DOI: 10.22004/ag.econ.142974

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