Natural Capital and the Resource Curse
An abundance of natural resources is intuitively expected to be a blessing. Nonetheless, it has been argued for some decades that large endowments of natural resources oil, gas, and minerals in particular may actually become more of a curse, often...
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| Format: | Brief |
| Language: | English |
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World Bank, Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2012/05/16290781/natural-capital-resource-curse http://hdl.handle.net/10986/10042 |
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okr-10986-100422021-04-23T14:02:48Z Natural Capital and the Resource Curse Canuto, Otaviano Cavallari, Matheus ABUNDANCE ACCOUNTING AGRICULTURE AMERICAN ECONOMIC REVIEW ASSETS CAPITAL ACCUMULATION CAPITALS COMMODITY COMMODITY PRICES DEVELOPING COUNTRIES DEVELOPMENT STRATEGY ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC MANAGEMENT ECONOMIC RESEARCH EXPORTS FACTORS OF PRODUCTION FOREIGN ASSETS GDP GDP PER CAPITA GLOBAL ECONOMIC PROSPECTS GOOD GOVERNANCE GROSS DOMESTIC PRODUCT HUMAN CAPITAL INCOME INCOME GROUP INCOME LEVELS INTANGIBLE INTERNATIONAL DEVELOPMENT INVESTMENT MANAGEMENT INVESTMENT RATES LOW INCOME LOW-INCOME COUNTRIES MIDDLE INCOME MIDDLE-INCOME COUNTRIES MISMANAGEMENT NATIONAL ACCOUNTS NATIONAL INCOME NATURAL CAPITAL NATURAL RESOURCE NATURAL RESOURCES NET FOREIGN ASSETS PER CAPITA INCOME PER CAPITA INCOME LEVELS PORTFOLIO PRESENT VALUE PRODUCTIVE ASSETS PROPERTY RIGHTS PUBLIC INVESTMENT RENT SEEKING REVIEW OF ECONOMICS SAVINGS STAGNATION STATEMENT SUSTAINABLE DEVELOPMENT TAX TAX REVENUES TECHNICAL ASSISTANCE TECHNOLOGICAL CHANGE TRADE OPENNESS TRANSPARENCY VOLATILITY WEALTH WORLD DEVELOPMENT INDICATORS An abundance of natural resources is intuitively expected to be a blessing. Nonetheless, it has been argued for some decades that large endowments of natural resources oil, gas, and minerals in particular may actually become more of a curse, often leading to slow economic growth and redistributive struggles (including armed conflict). Over the years, vast empirical literature has addressed this "paradox." The literature has had to rely on proxies for natural resource abundance because of the lack of appropriate data, generating doubt on whether results would be similar if direct measures of natural wealth were available. This gap is now starting to be filled with the data series released by the World Bank (1997, 2006, 2011) on natural capital and other forms of countries' wealth. This note presents an analysis of these data to revisit some of the conclusions reached in the literature on the relationship between natural resource abundance and economic growth. The findings are in alignment with the view that there is no clear deterministic evidence of natural resource abundance as a curse or a blessing; therefore, the effect on a country depends on other determinants. 2012-08-13T10:14:45Z 2012-08-13T10:14:45Z 2012-05 http://documents.worldbank.org/curated/en/2012/05/16290781/natural-capital-resource-curse http://hdl.handle.net/10986/10042 English Economic Premise; No. 83 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Brief Publications & Research |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ABUNDANCE ACCOUNTING AGRICULTURE AMERICAN ECONOMIC REVIEW ASSETS CAPITAL ACCUMULATION CAPITALS COMMODITY COMMODITY PRICES DEVELOPING COUNTRIES DEVELOPMENT STRATEGY ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC MANAGEMENT ECONOMIC RESEARCH EXPORTS FACTORS OF PRODUCTION FOREIGN ASSETS GDP GDP PER CAPITA GLOBAL ECONOMIC PROSPECTS GOOD GOVERNANCE GROSS DOMESTIC PRODUCT HUMAN CAPITAL INCOME INCOME GROUP INCOME LEVELS INTANGIBLE INTERNATIONAL DEVELOPMENT INVESTMENT MANAGEMENT INVESTMENT RATES LOW INCOME LOW-INCOME COUNTRIES MIDDLE INCOME MIDDLE-INCOME COUNTRIES MISMANAGEMENT NATIONAL ACCOUNTS NATIONAL INCOME NATURAL CAPITAL NATURAL RESOURCE NATURAL RESOURCES NET FOREIGN ASSETS PER CAPITA INCOME PER CAPITA INCOME LEVELS PORTFOLIO PRESENT VALUE PRODUCTIVE ASSETS PROPERTY RIGHTS PUBLIC INVESTMENT RENT SEEKING REVIEW OF ECONOMICS SAVINGS STAGNATION STATEMENT SUSTAINABLE DEVELOPMENT TAX TAX REVENUES TECHNICAL ASSISTANCE TECHNOLOGICAL CHANGE TRADE OPENNESS TRANSPARENCY VOLATILITY WEALTH WORLD DEVELOPMENT INDICATORS |
| spellingShingle |
ABUNDANCE ACCOUNTING AGRICULTURE AMERICAN ECONOMIC REVIEW ASSETS CAPITAL ACCUMULATION CAPITALS COMMODITY COMMODITY PRICES DEVELOPING COUNTRIES DEVELOPMENT STRATEGY ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC MANAGEMENT ECONOMIC RESEARCH EXPORTS FACTORS OF PRODUCTION FOREIGN ASSETS GDP GDP PER CAPITA GLOBAL ECONOMIC PROSPECTS GOOD GOVERNANCE GROSS DOMESTIC PRODUCT HUMAN CAPITAL INCOME INCOME GROUP INCOME LEVELS INTANGIBLE INTERNATIONAL DEVELOPMENT INVESTMENT MANAGEMENT INVESTMENT RATES LOW INCOME LOW-INCOME COUNTRIES MIDDLE INCOME MIDDLE-INCOME COUNTRIES MISMANAGEMENT NATIONAL ACCOUNTS NATIONAL INCOME NATURAL CAPITAL NATURAL RESOURCE NATURAL RESOURCES NET FOREIGN ASSETS PER CAPITA INCOME PER CAPITA INCOME LEVELS PORTFOLIO PRESENT VALUE PRODUCTIVE ASSETS PROPERTY RIGHTS PUBLIC INVESTMENT RENT SEEKING REVIEW OF ECONOMICS SAVINGS STAGNATION STATEMENT SUSTAINABLE DEVELOPMENT TAX TAX REVENUES TECHNICAL ASSISTANCE TECHNOLOGICAL CHANGE TRADE OPENNESS TRANSPARENCY VOLATILITY WEALTH WORLD DEVELOPMENT INDICATORS Canuto, Otaviano Cavallari, Matheus Natural Capital and the Resource Curse |
| relation |
Economic Premise; No. 83 |
| description |
An abundance of natural resources is
intuitively expected to be a blessing. Nonetheless, it has
been argued for some decades that large endowments of
natural resources oil, gas, and minerals in particular may
actually become more of a curse, often leading to slow
economic growth and redistributive struggles (including
armed conflict). Over the years, vast empirical literature
has addressed this "paradox." The literature has
had to rely on proxies for natural resource abundance
because of the lack of appropriate data, generating doubt on
whether results would be similar if direct measures of
natural wealth were available. This gap is now starting to
be filled with the data series released by the World Bank
(1997, 2006, 2011) on natural capital and other forms of
countries' wealth. This note presents an analysis of
these data to revisit some of the conclusions reached in the
literature on the relationship between natural resource
abundance and economic growth. The findings are in alignment
with the view that there is no clear deterministic evidence
of natural resource abundance as a curse or a blessing;
therefore, the effect on a country depends on other determinants. |
| format |
Publications & Research :: Brief |
| author |
Canuto, Otaviano Cavallari, Matheus |
| author_facet |
Canuto, Otaviano Cavallari, Matheus |
| author_sort |
Canuto, Otaviano |
| title |
Natural Capital and the Resource Curse |
| title_short |
Natural Capital and the Resource Curse |
| title_full |
Natural Capital and the Resource Curse |
| title_fullStr |
Natural Capital and the Resource Curse |
| title_full_unstemmed |
Natural Capital and the Resource Curse |
| title_sort |
natural capital and the resource curse |
| publisher |
World Bank, Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2012/05/16290781/natural-capital-resource-curse http://hdl.handle.net/10986/10042 |
| _version_ |
1764411610328203264 |