CUS> Vol.1 No.4, December 2013

Natural Resource Abundance and Economic Performance—A Literature Review

DownloadDownload as PDF (Size:497KB)  HTML    PP. 148-155  

ABSTRACT

It would be a major error to take the decade of the 1970s as the prototype for minerals-based development. The resource curse hypothesis seems anomalous as development economics, since on the surface it has no clear policy implication, but stands as a sad prediction. Minerals are not a curse at all in the sense of inevitability; the curse, where it exists, is self-fulfilling. Needless to say, policies and institutions have to be framed to local circumstances, country by country. But with good intentions and innovative thinking, there is no reason why resource-rich countries need fall prey to the curse.

KEYWORDS


Cite this paper

Roy, B. , Sarkar, S. and Mandal, N. (2013) Natural Resource Abundance and Economic Performance—A Literature Review. Current Urban Studies, 1, 148-155. doi: 10.4236/cus.2013.14016.

References

[1] Alexeev, M., & Conrad, R. (2009). The elusive curse of oil. Review of Economics and Statistics, 91, 586-598. http://dx.doi.org/10.1162/rest.91.3.586
[2] Atkinson, G., & Hamilton, K. (2003). Savings, growth and the resource curse hypothesis. World Development, 31, 1793-1807.
[3] Auty, R. M. (2001a). Resource abundance and economic development (p. 360). Oxford University Press.
[4] Auty, R. M. (2001). The political economy of growth collapses in mineral economies (p. 180). Mineral and Energy Press.
[5] Baldwin, R. E. (1966). Economic development and export growth: A study of northern rodhesia, 1920-1960. Berkeley: University of California Press.
[6] Brunnschweiler, C., & Bulte, E. (2008). The resource curve revisited and revised: A tale of Paradoxes and Red Herrings. Journal of Environmental Economics and Management, 55, 248-264. http://dx.doi.org/10.1016/j.jeem.2007.08.004
[7] Rostow, W. W. (1961). The stages of economic growth: A non-communist manifesto. Cambridge: Cambridge University Press.
[8] Brunnschweiler, C. (2006). Cursing the blessings? Natural resource abundance, institutions, and economic growth. ETH Zurich, Institute of Economic Research, CCRS, University of Zurich.
[9] Bulte, E., Damania, R., & Deacon, T. (2005). Resource intensity, institutions, and development. World Development, 33, 1029-1044.
[10] Chenery, H. B. (1960). Patterns of industrial growth. The American Economic Review, 50, 624-654.
[11] Chenery, H. B., & Syrquin, M. (1975). Patterns of development 1950-1970. Oxford: Oxford University Press.
[12] Clay, K., & Wright, G. (2005). Order without law? Property rights during the California gold rush. Explorations in Economic History, 42, 155-183. http://dx.doi.org/10.1016/j.eeh.2004.05.003
[13] Collier, P., & Hoeffler, A. (2005). Resource rents, governance, and conflict. Journal of Conflict Resolution, 49, 625-633. http://dx.doi.org/10.1177/0022002705277551
[14] Congleton, R. D., et al. (2008). Forty years of research on rent seeking: An overview. Berlin: Springer.
[15] Corden, W. M. (1984). Booming sector and dutch disease economics: Survey and consolidation. Oxford Economic Papers, 36, 359-380.
[16] Corden, W. M., & Neary, P. J. (1982). Booming sector and deindustrialization in a small open economy. Economic Journal, 92, 825-848. http://dx.doi.org/10.2307/2232670
[17] David, P. A., & Wright, G. (1997). The genesis of american resource abundance. Industrial and Corporate Change, 6, 203-245. http://dx.doi.org/10.1093/icc/6.2.203
[18] Gylfason, T. (2001). Natural resources, education and economic development. European Economic Review, 45, 847-859. http://dx.doi.org/10.1016/S0014-2921(01)00127-1
[19] Gylfason, T., & Zoega, G. (2002). Inequality and economic growth: Do natural resources matter? CESifo Working Paper, No. 712.
[20] Haussmann, R., & Rigobon, R. (2003). An alternative interpretation of the resource curse. Theory and Policy Implications, NBER Working Paper No. 9424.
[21] Hirschmann, A. O. (1958). The strategy of economic development. New Haven: Yale University Press.
[22] Hodler, R. (2005). The curse of natural resources in fractionalized countries. European Economic Review.
[23] Kreuger, A. (1974). The political economy of the rent seeking society, American Economic Review, 64, 291-303.
[24] Lederman, D., & Maloney, W. F. (2007a). Natural resources: Neither curse nor destiny. Stanford University Press.
[25] Leite, C., & Weidman, J. (1999). Does mother nature corrupt? Natural Resources, Corruption, and Economic Growth, Working Paper WP99/85. Washington DC: International Monetary Fund.
[26] Mabro R., & Monroe E. (1974). Arab wealth from oil: Problems of its investment. International Affairs, Energy and ARAB Economic Development.
[27] Mabro, R. (1980). Oil revenues and the cost of social and economic development. Energy in the Arab world, 1, Kuwait AFESD and OAPEC.
[28] Maloney, W. F. (2002). Missed opportunities: Innovation and resource-based growth in Latin America. Economia, 3, 111-150
[29] Maloney, W. F. (2001). Innovation and growth in resource rich countries, central bank of chile. Working Paper 148. Santiago de Chile: Central Bank of Chile.
[30] Manzano, O., & Rigobon, R. (2001). Resource Curse or Debt Overhang? NBER Working Paper No. 8390, National Bureau of Economic Research.
[31] Manzano, O., & Rigobon, R. (2003). Resource curse or debt overhang? National Bureau of Economic Research. Working Paper Series No. 8390.
[32] Matsuyama, K. (1992). Agricultural productivity, comparative advantage, and economic growth. Journal of Economic Theory, 58, 317-334. http://dx.doi.org/10.1016/0022-0531(92)90057-O
[33] Mehlum, H., Karl, M., & Torvik, R. (2006). Institutions and the resource curse. The Economic Journal, 116, 1-20. http://dx.doi.org/10.1111/j.1468-0297.2006.01045.x
[34] Neumayer, E. (2004). Does the ‘Resource Curse’ hold for growth in genuine income as well? World Development, 32, 1627-1640. http://dx.doi.org/10.1016/j.worlddev.2004.05.005
[35] Norman, C. (2009). Rule of law and the resource curse: Abundance versus intensity. Environmental and Resource Economics, 43, 183-207.
[36] Papyrakis, E., & Gerlagh, R. (2004). The resource curse hypothesis and its transmission channels. Journal of Comparative Economics, 32, 181-193. http://dx.doi.org/10.1016/j.jce.2003.11.002
[37] Prebisch, R. (1950). The economic development of latin america and its principal problems. New York: Lake Success.
[38] Rambaldi, A. N., Hall, G., & Brown, R. P. C. (2006). Re-testing the resource curse hypothesis using panel data and an improved measure of resource intensity. International Association of Agricultural Economists Conference, Gold Coast.
[39] Robinson, J. A., Torvik, R., & Verdier T. (2006). Political foundations of the resource curse. Journal of Development Economics, 79, 447-468. http://dx.doi.org/10.1016/j.jdeveco.2006.01.008
[40] Rodriguez, F., & Sachs, J. D. (1999). Why do resource-abundant economies grow more slowly? Journal of Economic Growth, 4, 277-303. http://dx.doi.org/10.1023/A:1009876618968
[41] Ross, M. L. (2001). Does oil hinder democracy? World Politics, 53, 325-361. http://dx.doi.org/10.1353/wp.2001.0011
[42] Sachs, J. D., & Warner, A. M. (1995). Natural resource abundance and economic growth, NBER Working Paper 5398. National Bureau of Economic Research, 49.
[43] Sachs, J. D., & Warner, A. M. (1995b). Natural resource abundance and economic growth. Development Discussion Paper No. 517a. Harvard Institute for International Development.
[44] Sachs, J. D., & Andrew, W. (1997b). Sources of slow growth in African economies. Journal of African Economies, 6, 335-376. http://dx.doi.org/10.1093/oxfordjournals.jae.a020932
[45] Sachs, J. D., & Warner, A. M. (1999). The big push, natural resource booms and growth. Journal of Development Economics, 59, 43-76. http://dx.doi.org/10.1016/S0304-3878(99)00005-X
[46] Sachs, J. D., & Warner, A. M. (2001). Natural resources and economic development: The curse of natural resources. European Economic Review, 45, 827-838. http://dx.doi.org/10.1016/S0014-2921(01)00125-8
[47] Sala-i-Martin, X., & Subramaniam, A. (2003). Addressing the natural resource curse: An illustration from Nigeria. NBER Working Paper 9804. National Bureau of Economic Research.
[48] Seers, D. (1964). The mechanism of an open petroleum economy. Social andEconomic Studies, 13, 233-242.
[49] Singer, H. (1950). The distribution of gains between investing and borrowing, American Economic Review, 40, 473-485.
[50] Stijns, J. P. C. (2001). Natural resource abundance and economic growth revisited. Unpublished mimeo, Department of Economics, Berkeley: University of California.
[51] Stijns, J.-P. C. (2005). Natural resource abundance and economic growth revisited. Northeastern University.
[52] Stijns, J. P. C. (2005). Natural resource abundance and economic growth revisited. Resources Policy, 30, 107-130. http://dx.doi.org/10.1016/j.resourpol.2005.05.001
[53] Stijns, J.-P. (2003). Three essays on natural resource abundance, economic growth and development. Ph.D. Dissertation, Berkeley: University of California.
[54] Tobias, K. (2004). The curse of natural resources in the transition economies. Economics of Transition, 12, 399-426. http://dx.doi.org/10.1111/j.0967-0750.2004.00187.x
[55] Tullock, G. (1967). The welfare costs of tariffs, monopolies, and theft. Western Economic Journal, 5, 224-232.
[56] Van Wijnbergen, S. (1984). The dutch disease: A disease after all? Economic Journal, 94, 41-55. http://dx.doi.org/10.2307/2232214
[57] Wright, G. (1990). The origins of american industrial success, 1879-1940. American Economic Review, 80, 651-668.
[58] Wright, G., & Czelusta, J. (2004). Why economies slow: The myth of the resource curse. Challenge, 47, 6-38.
[59] Wright, G. (1990). The origins of American industrial success, 1879-1940. American Economic Review, 80, 651-668.
[60] Yang, B. H. (2009). Resource Curse: The role of institutions versus policies. Applied Economics Letters, 17, 61-66.

comments powered by Disqus

Copyright © 2014 by authors and Scientific Research Publishing Inc.

Creative Commons License

This work and the related PDF file are licensed under a Creative Commons Attribution 4.0 International License.