Curse and Boon: Natural Resources and Long-Run Growth in Currently Rich Economies

David Greasley, Jakob B. Madsen

Research output: Contribution to journalArticle

11 Citations (Scopus)

Abstract

Sceptics of the resource curse hypothesis highlight that many currently rich countries, including the United States of America initially had abundant natural resources. Using new 16-country post-1870 annual data and controlling for international spill-over in knowledge, we demonstrate a robust negative land resource-productivity trade-off among major Organisation for Economic Cooperation and Development economies. However, we find that abundance in mineral resources positively influenced productivity. Using insights from the new economic geography we argue that productivity-augmenting knowledge-related agglomeration effects are natural resource-specific and favoured mineral-rich countries.

Original languageEnglish
Pages (from-to)311-328
Number of pages18
JournalEconomic Record
Volume86
Issue number274
DOIs
Publication statusPublished - 1 Sep 2010
Externally publishedYes

Fingerprint Dive into the research topics of 'Curse and Boon: Natural Resources and Long-Run Growth in Currently Rich Economies'. Together they form a unique fingerprint.

Cite this