『Abstract
This paper summarizes and extends previous research that has
shown evidence of a “curse of natural resources” - countries with
great natural resource wealth tend nevertheless to grow more slowly
than resource-poor countries. This result is not easily explained
by other variables, or by alternative ways to measure resource
abundance. This paper shows that there is little direct evidence
that omitted geographical or climate variables explain the curse,
or that there is a bias resulting from some other unobserved growth
deterrent. Resource-abundant countries tended to be high-price
economies and, perhaps as a consequence, these countries tended
to miss-out on export-led growth.
Keywords: Growth; Natural resources; Exports』
0. Introduction
1. Does the curse really exist?
2. What explains the curse?
3. Conclusion
References