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The Resource Curse: A Statistical Mirage?

Alexander James

No 147, OxCarre Working Papers from Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford

Abstract: A surprising feature of resource-rich economies is slow growth. It is often argued that natural-resource production impedes development by creating market or institutional failures. This paper establishes an alternative explanationa slow-growing resource sector. A declining resource sector is disproportionately reflected in resource-dependent countries. Additionally, there is little evidence that resource dependence impedes growth in non-resource sectors. More generally, this paper illustrates the importance of considering industry composition in cross-country growth regressions.

Keywords: Resource Dependence; Economic Growth; Resource Curse (search for similar items in EconPapers)
JEL-codes: Q2 Q3 O1 (search for similar items in EconPapers)
Date: 2014-10-17
New Economics Papers: this item is included in nep-ene and nep-gro
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Journal Article: The resource curse: A statistical mirage? (2015) Downloads
Working Paper: The Resource Curse: A Statistical Mirage? (2014) Downloads
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