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The Resource Curse Exorcised: Evidence from a Panel of Countries

Brock Smith ()

No 63, Working Papers from University of California, Davis, Department of Economics

Abstract: 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)
Date: 2013-03-17
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http://repec.dss.ucdavis.edu/files/iqbWSbjT1WsHht8hkV4NU9Z2/13-3.pdf (application/pdf)

Related works:
Working Paper: The Resource Curse Exorcised: Evidence from a Panel of Countries (2016) Downloads
Journal Article: The resource curse exorcised: Evidence from a panel of countries (2015) Downloads
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