The “Resource Curse” and Regional U.S. Development

Donald Freeman ()

No 506, Working Papers from Sam Houston State University, Department of Economics and International Business

Abstract: The “Resource Curse” is a stylized fact that has been observed consistently in a number of development studies: countries that are relatively well-endowed with natural resources tend to grow more slowly than resource-poor economies. This paper documents evidence that the Resource Curse extends to the individual states of the U.S. Using a variety of specifications, regression of state GSP growth on resource abundance consistently shows a negative and significant relationship. There is strong evidence that resource-based economies are more volatile economies, and volatile economies may be less desirable to investors.

Date: 2005-08
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Journal Article: The 'Resource Curse' and regional US development (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:shs:wpaper:0506

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