The Resource Curse Exorcised: Evidence from a Panel of Countries
Brock Smith ()
No 63, Working Papers from University of California, Davis, Department of Economics
This paper evaluates the impact of major natural resource discoveries since 1950 on GDP per capita and other economic and social indicators. Using panel fixed-effects estimation ad resource discoveries in countries that were not previously resource-rich, I find a positive effect on GDP per capita following extraction that persists in the long term, in contrast with much of the resource curse literature that uses cross-sectional designs. I also find positive effects on education levels, reductions in infant mortality, and negative effects on democratic institutions. I further test these outcomes with synthetic control analysis, yielding results consistent the fixed-effects model.
Keywords: Resource Curse; Oil; Economic Growth (search for similar items in EconPapers)
JEL-codes: O44 Q32 (search for similar items in EconPapers)
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Working Paper: The Resource Curse Exorcised: Evidence from a Panel of Countries (2016)
Journal Article: The resource curse exorcised: Evidence from a panel of countries (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:cda:wpaper:63
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