Stijns,J.-P.C.(2005): Natural resource abundance and economic growth revisited. Resources Policy, 30, 107-130.


 An analysis using reserves as a measure of resource abundance suggests that natural resource abundance has not been a significant structural determinant of economic growth in the seventies and eighties. The story behind the effect of natural resources on economic growth is a complex one that typical growth regressions do not capture well. Preliminary evidence suggests that natural resources may affect economic growth through both ‘positive’ and ‘negative channels.’ Potential reverse causality running from these ‘channels’ to fuel and mineral reserves further complicates the analysis. I conjecture that, as economic historians suggest, the ability of a country to exploit its resource base depends critically on the nature of the learning process involved.

Keywords: Natural resources; Economic growth; Development』

Literature review
 Dutch disease models
 How it is produced, not what is produced
 Different environment, different effects
 Indicators of resource abundance
 Resource reserves vs. production
 Resource abundance vs. resource exports
 Resource abundance and economic growth
Growth regressions
 Reproducing sachs and warner
 Introducing resource abundance
 Controlling for ‘growth club’ membership
 Reintroducing SXP
Channels of operation
 Oil and gas reserves
 Coal reserves
 Mineral reserves
Appendix A. Data appendix
 A.1. Economic and political variables
Appendix B. Energy reserve data
 B.1. Oil
 B.2. Gas
 B.3. Coal
Appendix C. Mineral reserve data