Natural Resource Abundance and Economic Growth

@article{Sachs1995NaturalRA,
  title={Natural Resource Abundance and Economic Growth},
  author={Jeffrey D. Sachs and Andrew M. Warner},
  journal={Economic Growth},
  year={1995}
}
One of the surprising features of modern economic growth is that economies with abundant natural resources have tended to grow less rapidly than natural-resource-scarce economies. In this paper we show that economies with a high ratio of natural resource exports to GDP in 1971 (the base year) tended to have low growth rates during the subsequent period 1971-89. This negative relationship holds true even after controlling for variables found to be important for economic growth, such as initial… 

Natural Resources and Economic Growth: The Role of Investment

Empirical evidence seems to indicate that economic growth since 1965 has varied inversely with natural resource abundance across countries. This paper proposes a linkage between abundant natural

Natural Resources and Economic Growth: Some Theory and Evidence

We develop a one-sector endogenous growth model in which renewable natural resources are both a factor of production and measure of environmental quality. Along the balanced growth path, sustained

Natural Resources and Economic Development The curse of natural resources

This paper summarizes and extends previous research that has shown evidence of acurse of natural resourcesa } countries withgreat natural resource wealthtend nevertheless to grow more slowly than

Natural Resources and Economic Growth: The Conditional Curse

Many studies of “natural resource curse” have been constantly criticized for their measurement of natural resources, over-reliance on the period from 1970 to 1989, and over-generalization of the

Nature, Power, and Growth

This essay reviews the relationship between natural-resource abundance and economic growth around the world, and presents some new results. The principal reasons why resource-based production can

Natural Resource Abundance and Economic Growth in a Two Country World

We investigate the Ramsey-like dynamics of nonrenewable resource abundance on economic growth and welfare in a two country world. One country is endowed with a non-renewable- resource Otherwise,

Natural Resources and Economic Growth: The Role of Financial Development Evidence from MENA Region

It is often postulated that counties with natural resources endowment could experience a significant increase in economic growth. However, empirical evidence has revealed that this is not the case
...

References

SHOWING 1-10 OF 73 REFERENCES

Economic Convergence and Economic Policies

Many of the crucial debates in development economics are encapsulated in the question of economic convergence. Is there a tendency for the poorer countries to grow more rapidly than the richer

A Contribution to the Empirics of Economic Growth

This paper examines whether the Solow growth model is consistent with the international variation in the standard of living. It shows that an augmented Solow model that includes accumulation of human

Sources of Slow Growth in African Economies

This paper offers some econometric evidence on the sources of slow growth in Sub-Saharan Africa. The evidence suggests that the continent's slow growth can be explained in an international

Economic growth.

TLDR
Economic growth can be measured in ‘nominal’ or ‘real’ terms, which reflects how much a country is producing at a given time, compared with other points in time.

Equipment Investment and Economic Growth

Using data from the United Nations Comparison Project and the Penn World Table, we find that machinery and equipment investment has a strong association with growth: over l9&)?l95 each percent of GDP

Domestic Saving and International Capital Flows Reconsidered

A long literature since Feldstein and Horioka's seminal contribution documents the strong correlation of domestic saving and investment rates since the 1960s. According to conventional wisdom, the

Finance and Growth: Schumpeter Might Be Right

Joseph Schumpeter argued in 1911 that the services provided by financial intermediaries - mobilizing savings, evaluating projects, managing risk, monitoring managers, and facilitating transactions

Oil Windfalls: Blessing or Curse?

The oil booms of 1973 and 1979 brought unprecedented income to many, previously poor oil-producing countries. What became of their new-found wealth? In this comparative study, the author assesses for

The Distribution of Gains between Investing and Borrowing Countries

International trade is of very considerable importance to underdeveloped countries, and the benefits which they derive from trade and any variations in their trade affect their national incomes very
...