Natural Resources and Economic Growth: The Role of Investment

@inproceedings{Gylfason2004NaturalRA,
  title={Natural Resources and Economic Growth: The Role of Investment},
  author={Thorvaldur Gylfason and Gylfi Zoega},
  year={2004}
}
Is it possible that relying too heavily on natural resources affects saving and investment in a way that hampers economic growth? – and thus, in the long run, the level of output per capita. This paper reviews the literature, explores the data and compares and contrasts the explanatory power and interplay of natural resources and civil liberties, our proxy for institutional variables currently under scrutiny in the literature. We propose that natural resources may be viewed as an exogenous… CONTINUE READING

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