Revisiting the role of the resource curse in shaping institutions and growth

Syed Murshed, Muhammad Badiuzzaman and Mohammad Habibullah Pulok

No 605, ISS Working Papers - General Series from International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague

Abstract: This paper examines the effect of natural resource dependence on growth in a cross-country setting during 1970 to 2010, first accounting for the effect of resource export dependence on institutional development. We employ several political and governance indicators, numerous econometric techniques on two separate panels, including one post-cold war. Our findings suggest there is a resource curse adversely effecting growth via institutional deterioration in the longer term (1970-2010), but recently (1995-2012) there is a reversal of this adverse effect on some institutions. Moreover, certain institutions matter more for growth, including governance and constraints on the executive relative to democracy.

Keywords: resource dependence; growth; institutions (search for similar items in EconPapers)
JEL-codes: O13 O40 Q33 (search for similar items in EconPapers)
Pages: 32
Date: 2015-02-27
New Economics Papers: this item is included in nep-ene and nep-gro
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Citations: View citations in EconPapers (2)

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