In Search of the Missing Resource Curse

The debate over the curse of natural resources has haunted developing countries for decades if not centuries. A review of existing empirical evidence suggests that the curse remains elusive. The fragile negative effect of natural resources on econo...

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Main Authors: Lederman, Daniel, Maloney, William F.
Format: Policy Research Working Paper
Language:English
Published: World Bank, Washington, DC 2012
Subjects:
GDP
Online Access:http://documents.worldbank.org/curated/en/2008/11/9993216/search-missing-resource-curse
http://hdl.handle.net/10986/6901
id okr-10986-6901
recordtype oai_dc
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic ABSOLUTE VALUE
AGRICULTURE
ANNUAL GROWTH
ANNUAL GROWTH RATE
AVERAGE ANNUAL
AVERAGE GROWTH
AVERAGE SHARE
BLACK MARKET
BLACK MARKET PREMIUM
CAPITAL ACCUMULATION
CLASSICAL ECONOMICS
COMMODITY PRICES
COMPARATIVE ADVANTAGE
CONSTANT PRICES
CONSTANT RETURNS
CONSTANT RETURNS TO SCALE
CONTROL VARIABLES
COUNTRY CHARACTERISTICS
COUNTRY ECONOMETRIC EVIDENCE
CREDIBILITY
CROSS-COUNTRY DATA
CROSS-COUNTRY INCOME
DEBT
DECISION MAKING
DEPENDENT VARIABLE
DEPENDENT VARIABLES
DEPRECIATION
DESCRIPTIVE STATISTICS
DEVELOPING COUNTRIES
DEVELOPMENT ECONOMICS
DEVELOPMENT POLICY
DEVELOPMENT SUCCESSES
DOMESTIC MARKET
DOMESTIC PRICES
DOWNWARD BIAS
DRAG ON GROWTH
DUMMY VARIABLE
DUMMY VARIABLES
DUTCH DISEASE
DYNAMIC VERSION
ECONOMETRIC ANALYSES
ECONOMETRIC ANALYSIS
ECONOMETRIC ISSUES
ECONOMETRIC MODELS
ECONOMETRICS
ECONOMIC ACTIVITY
ECONOMIC DEVELOPMENT
ECONOMIC GROWTH
ECONOMIC PERFORMANCE
ECONOMIC REFORM
ECONOMIC RENTS
ECONOMIC RESEARCH
ECONOMIC REVIEW
ECONOMIC STUDIES
ECONOMICS RESEARCH
ECONOMIES OF SCALE
ELASTICITY
EMPIRICAL EVIDENCE
EMPIRICAL GROWTH LITERATURE
EMPIRICAL GROWTH MODEL
EMPIRICAL LITERATURE
EMPIRICAL MODELS
EMPIRICAL WORK
ENDOGENOUS GROWTH
ENDOGENOUS VARIABLE
EQUILIBRIUM
EXCESS DEMAND
EXCHANGE RATES
EXPLANATORY VARIABLE
EXPLANATORY VARIABLES
EXPORTER
EXPORTERS
EXPORTS
EXTERNALITY
FACTOR ENDOWMENTS
FINANCIAL MARKETS
FISCAL POLICIES
FIXED EFFECTS
FOREIGN AID
FOREIGN DEBT
FUNDAMENTAL DETERMINANTS
FUTURE RESEARCH
GDP
GDP PER CAPITA
GOLD
GROWTH CONTEXT
GROWTH DATA
GROWTH EMPIRICS
GROWTH EQUATION
GROWTH IMPACT
GROWTH LITERATURE
GROWTH MODEL
GROWTH MODELS
GROWTH PERFORMANCE
GROWTH POTENTIAL
GROWTH RATE
GROWTH RATES
GROWTH REGRESSIONS
GROWTH THEORY
HIGH GROWTH
HIGH-INCOME COUNTRIES
HUMAN CAPITAL
IMPORT
IMPORT TARIFFS
IMPORTS
INCOME DIFFERENCES
INCOME GROWTH
INDUSTRIALIZATION
INSTITUTIONAL CONSTRAINTS
INSTRUMENTAL VARIABLE
INTERNATIONAL FINANCIAL STATISTICS
INVESTMENT RATE
KNOWLEDGE ECONOMY
LABOR FORCE
LABOR MARKET
LABOR PRODUCTIVITY
LAGGED DEPENDENT
LANDLOCKED COUNTRIES
LDCS
LEVELS OF EXPORT
LOCAL CURRENCY
LONG-TERM GROWTH
LOW-INCOME COUNTRIES
MACRO VOLATILITY
MACROECONOMIC POLICIES
MACROECONOMIC POLICY
MARGINAL PRODUCTIVITY
MONETARY ECONOMICS
MONOPOLIES
MONOPOLY
MONOPOLY RENTS
NATIONAL INCOME
NATURAL LOG
NATURAL LOGARITHM
NATURAL RESOURCE
NATURAL RESOURCE ABUNDANCE
NATURAL RESOURCES
NEGATIVE CORRELATION
NEGATIVE EFFECT
NEGATIVE GROWTH
NEGATIVE IMPACT
NEGATIVE RELATIONSHIP
NEGATIVE SIGN
NEOCLASSICAL GROWTH
NEOCLASSICAL GROWTH MODEL
NEOCLASSICAL GROWTH THEORY
NET EFFECT
NET EXPORTS
0 HYPOTHESIS
OBSERVED GROWTH
OPTIMIZATION
PER CAPITA GROWTH
PER CAPITA INCOME
POLICY REFORM
POLICY RESEARCH
POLICY REVIEW
POLITICAL ECONOMY
POLITICAL ECONOMY CHANNEL
POLITICAL INSTITUTIONS
POLITICAL STABILITY
POSITIVE CORRELATION
POSITIVE EFFECT
POSITIVE EFFECTS
POSITIVE GROWTH
POSITIVE RELATIONSHIP
POSITIVE SPILLOVER
POSITIVE SPILLOVER EFFECTS
POWER PARITY
PRIVATE INVESTMENT
PRIVATE SECTOR
PRODUCTION FUNCTION
PRODUCTION FUNCTIONS
PRODUCTIVITY
PRODUCTIVITY GROWTH
PROPERTY RIGHTS
PROTECTIONISM
PUBLIC ENTERPRISES
PUBLIC POLICIES
PURCHASING POWER
PURCHASING POWER PARITY
QUANTILE REGRESSIONS
RANDOM WALK
RE-EXPORTS
REAL EFFECTIVE EXCHANGE RATE
REAL EXCHANGE RATE
REAL GDP
REAL GROWTH
REGIONAL DUMMIES
REGIONAL GROWTH
REGRESSION RESULTS
RELATIVE PRICES
RENT SEEKING
RESOURCE ENDOWMENTS
SENSITIVITY ANALYSIS
STANDARD DEVIATION
STATISTICAL ANALYSIS
TARIFF BARRIERS
TOTAL EXPORTS
TOTAL FACTOR PRODUCTIVITY
TOTAL FACTOR PRODUCTIVITY GROWTH
TRADE DATA
TRADE MOVEMENTS
TRADE PATTERNS
TRADE POLICY
TRADE REGIMES
TRADE RESTRICTIONS
UNCERTAINTY
WEALTH
WORLD DEVELOPMENT INDICATORS
spellingShingle ABSOLUTE VALUE
AGRICULTURE
ANNUAL GROWTH
ANNUAL GROWTH RATE
AVERAGE ANNUAL
AVERAGE GROWTH
AVERAGE SHARE
BLACK MARKET
BLACK MARKET PREMIUM
CAPITAL ACCUMULATION
CLASSICAL ECONOMICS
COMMODITY PRICES
COMPARATIVE ADVANTAGE
CONSTANT PRICES
CONSTANT RETURNS
CONSTANT RETURNS TO SCALE
CONTROL VARIABLES
COUNTRY CHARACTERISTICS
COUNTRY ECONOMETRIC EVIDENCE
CREDIBILITY
CROSS-COUNTRY DATA
CROSS-COUNTRY INCOME
DEBT
DECISION MAKING
DEPENDENT VARIABLE
DEPENDENT VARIABLES
DEPRECIATION
DESCRIPTIVE STATISTICS
DEVELOPING COUNTRIES
DEVELOPMENT ECONOMICS
DEVELOPMENT POLICY
DEVELOPMENT SUCCESSES
DOMESTIC MARKET
DOMESTIC PRICES
DOWNWARD BIAS
DRAG ON GROWTH
DUMMY VARIABLE
DUMMY VARIABLES
DUTCH DISEASE
DYNAMIC VERSION
ECONOMETRIC ANALYSES
ECONOMETRIC ANALYSIS
ECONOMETRIC ISSUES
ECONOMETRIC MODELS
ECONOMETRICS
ECONOMIC ACTIVITY
ECONOMIC DEVELOPMENT
ECONOMIC GROWTH
ECONOMIC PERFORMANCE
ECONOMIC REFORM
ECONOMIC RENTS
ECONOMIC RESEARCH
ECONOMIC REVIEW
ECONOMIC STUDIES
ECONOMICS RESEARCH
ECONOMIES OF SCALE
ELASTICITY
EMPIRICAL EVIDENCE
EMPIRICAL GROWTH LITERATURE
EMPIRICAL GROWTH MODEL
EMPIRICAL LITERATURE
EMPIRICAL MODELS
EMPIRICAL WORK
ENDOGENOUS GROWTH
ENDOGENOUS VARIABLE
EQUILIBRIUM
EXCESS DEMAND
EXCHANGE RATES
EXPLANATORY VARIABLE
EXPLANATORY VARIABLES
EXPORTER
EXPORTERS
EXPORTS
EXTERNALITY
FACTOR ENDOWMENTS
FINANCIAL MARKETS
FISCAL POLICIES
FIXED EFFECTS
FOREIGN AID
FOREIGN DEBT
FUNDAMENTAL DETERMINANTS
FUTURE RESEARCH
GDP
GDP PER CAPITA
GOLD
GROWTH CONTEXT
GROWTH DATA
GROWTH EMPIRICS
GROWTH EQUATION
GROWTH IMPACT
GROWTH LITERATURE
GROWTH MODEL
GROWTH MODELS
GROWTH PERFORMANCE
GROWTH POTENTIAL
GROWTH RATE
GROWTH RATES
GROWTH REGRESSIONS
GROWTH THEORY
HIGH GROWTH
HIGH-INCOME COUNTRIES
HUMAN CAPITAL
IMPORT
IMPORT TARIFFS
IMPORTS
INCOME DIFFERENCES
INCOME GROWTH
INDUSTRIALIZATION
INSTITUTIONAL CONSTRAINTS
INSTRUMENTAL VARIABLE
INTERNATIONAL FINANCIAL STATISTICS
INVESTMENT RATE
KNOWLEDGE ECONOMY
LABOR FORCE
LABOR MARKET
LABOR PRODUCTIVITY
LAGGED DEPENDENT
LANDLOCKED COUNTRIES
LDCS
LEVELS OF EXPORT
LOCAL CURRENCY
LONG-TERM GROWTH
LOW-INCOME COUNTRIES
MACRO VOLATILITY
MACROECONOMIC POLICIES
MACROECONOMIC POLICY
MARGINAL PRODUCTIVITY
MONETARY ECONOMICS
MONOPOLIES
MONOPOLY
MONOPOLY RENTS
NATIONAL INCOME
NATURAL LOG
NATURAL LOGARITHM
NATURAL RESOURCE
NATURAL RESOURCE ABUNDANCE
NATURAL RESOURCES
NEGATIVE CORRELATION
NEGATIVE EFFECT
NEGATIVE GROWTH
NEGATIVE IMPACT
NEGATIVE RELATIONSHIP
NEGATIVE SIGN
NEOCLASSICAL GROWTH
NEOCLASSICAL GROWTH MODEL
NEOCLASSICAL GROWTH THEORY
NET EFFECT
NET EXPORTS
0 HYPOTHESIS
OBSERVED GROWTH
OPTIMIZATION
PER CAPITA GROWTH
PER CAPITA INCOME
POLICY REFORM
POLICY RESEARCH
POLICY REVIEW
POLITICAL ECONOMY
POLITICAL ECONOMY CHANNEL
POLITICAL INSTITUTIONS
POLITICAL STABILITY
POSITIVE CORRELATION
POSITIVE EFFECT
POSITIVE EFFECTS
POSITIVE GROWTH
POSITIVE RELATIONSHIP
POSITIVE SPILLOVER
POSITIVE SPILLOVER EFFECTS
POWER PARITY
PRIVATE INVESTMENT
PRIVATE SECTOR
PRODUCTION FUNCTION
PRODUCTION FUNCTIONS
PRODUCTIVITY
PRODUCTIVITY GROWTH
PROPERTY RIGHTS
PROTECTIONISM
PUBLIC ENTERPRISES
PUBLIC POLICIES
PURCHASING POWER
PURCHASING POWER PARITY
QUANTILE REGRESSIONS
RANDOM WALK
RE-EXPORTS
REAL EFFECTIVE EXCHANGE RATE
REAL EXCHANGE RATE
REAL GDP
REAL GROWTH
REGIONAL DUMMIES
REGIONAL GROWTH
REGRESSION RESULTS
RELATIVE PRICES
RENT SEEKING
RESOURCE ENDOWMENTS
SENSITIVITY ANALYSIS
STANDARD DEVIATION
STATISTICAL ANALYSIS
TARIFF BARRIERS
TOTAL EXPORTS
TOTAL FACTOR PRODUCTIVITY
TOTAL FACTOR PRODUCTIVITY GROWTH
TRADE DATA
TRADE MOVEMENTS
TRADE PATTERNS
TRADE POLICY
TRADE REGIMES
TRADE RESTRICTIONS
UNCERTAINTY
WEALTH
WORLD DEVELOPMENT INDICATORS
Lederman, Daniel
Maloney, William F.
In Search of the Missing Resource Curse
relation Policy Research Working Paper; No. 4766
description The debate over the curse of natural resources has haunted developing countries for decades if not centuries. A review of existing empirical evidence suggests that the curse remains elusive. The fragile negative effect of natural resources on economic growth might be due to international heterogeneity in the effects of natural resources on economic growth, to the use of weak indicators of natural resources that might be unrelated to relative natural-resource endowments, or to the inability of econometric analysis based on international data to capture historical processes. This paper defends an empirical proxy for relative abundance of natural resources, which is based on standard growth theory. In turn, various econometric estimations are hopelessly deployed in the search for the missing resource curse. Some evidence suggests that natural resources might have large positive effects whose true magnitude remains unknown due to unresolved econometric issues.
format Publications & Research :: Policy Research Working Paper
author Lederman, Daniel
Maloney, William F.
author_facet Lederman, Daniel
Maloney, William F.
author_sort Lederman, Daniel
title In Search of the Missing Resource Curse
title_short In Search of the Missing Resource Curse
title_full In Search of the Missing Resource Curse
title_fullStr In Search of the Missing Resource Curse
title_full_unstemmed In Search of the Missing Resource Curse
title_sort in search of the missing resource curse
publisher World Bank, Washington, DC
publishDate 2012
url http://documents.worldbank.org/curated/en/2008/11/9993216/search-missing-resource-curse
http://hdl.handle.net/10986/6901
_version_ 1764401289522839552
spelling okr-10986-69012021-04-23T14:02:32Z In Search of the Missing Resource Curse Lederman, Daniel Maloney, William F. ABSOLUTE VALUE AGRICULTURE ANNUAL GROWTH ANNUAL GROWTH RATE AVERAGE ANNUAL AVERAGE GROWTH AVERAGE SHARE BLACK MARKET BLACK MARKET PREMIUM CAPITAL ACCUMULATION CLASSICAL ECONOMICS COMMODITY PRICES COMPARATIVE ADVANTAGE CONSTANT PRICES CONSTANT RETURNS CONSTANT RETURNS TO SCALE CONTROL VARIABLES COUNTRY CHARACTERISTICS COUNTRY ECONOMETRIC EVIDENCE CREDIBILITY CROSS-COUNTRY DATA CROSS-COUNTRY INCOME DEBT DECISION MAKING DEPENDENT VARIABLE DEPENDENT VARIABLES DEPRECIATION DESCRIPTIVE STATISTICS DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DEVELOPMENT POLICY DEVELOPMENT SUCCESSES DOMESTIC MARKET DOMESTIC PRICES DOWNWARD BIAS DRAG ON GROWTH DUMMY VARIABLE DUMMY VARIABLES DUTCH DISEASE DYNAMIC VERSION ECONOMETRIC ANALYSES ECONOMETRIC ANALYSIS ECONOMETRIC ISSUES ECONOMETRIC MODELS ECONOMETRICS ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC REFORM ECONOMIC RENTS ECONOMIC RESEARCH ECONOMIC REVIEW ECONOMIC STUDIES ECONOMICS RESEARCH ECONOMIES OF SCALE ELASTICITY EMPIRICAL EVIDENCE EMPIRICAL GROWTH LITERATURE EMPIRICAL GROWTH MODEL EMPIRICAL LITERATURE EMPIRICAL MODELS EMPIRICAL WORK ENDOGENOUS GROWTH ENDOGENOUS VARIABLE EQUILIBRIUM EXCESS DEMAND EXCHANGE RATES EXPLANATORY VARIABLE EXPLANATORY VARIABLES EXPORTER EXPORTERS EXPORTS EXTERNALITY FACTOR ENDOWMENTS FINANCIAL MARKETS FISCAL POLICIES FIXED EFFECTS FOREIGN AID FOREIGN DEBT FUNDAMENTAL DETERMINANTS FUTURE RESEARCH GDP GDP PER CAPITA GOLD GROWTH CONTEXT GROWTH DATA GROWTH EMPIRICS GROWTH EQUATION GROWTH IMPACT GROWTH LITERATURE GROWTH MODEL GROWTH MODELS GROWTH PERFORMANCE GROWTH POTENTIAL GROWTH RATE GROWTH RATES GROWTH REGRESSIONS GROWTH THEORY HIGH GROWTH HIGH-INCOME COUNTRIES HUMAN CAPITAL IMPORT IMPORT TARIFFS IMPORTS INCOME DIFFERENCES INCOME GROWTH INDUSTRIALIZATION INSTITUTIONAL CONSTRAINTS INSTRUMENTAL VARIABLE INTERNATIONAL FINANCIAL STATISTICS INVESTMENT RATE KNOWLEDGE ECONOMY LABOR FORCE LABOR MARKET LABOR PRODUCTIVITY LAGGED DEPENDENT LANDLOCKED COUNTRIES LDCS LEVELS OF EXPORT LOCAL CURRENCY LONG-TERM GROWTH LOW-INCOME COUNTRIES MACRO VOLATILITY MACROECONOMIC POLICIES MACROECONOMIC POLICY MARGINAL PRODUCTIVITY MONETARY ECONOMICS MONOPOLIES MONOPOLY MONOPOLY RENTS NATIONAL INCOME NATURAL LOG NATURAL LOGARITHM NATURAL RESOURCE NATURAL RESOURCE ABUNDANCE NATURAL RESOURCES NEGATIVE CORRELATION NEGATIVE EFFECT NEGATIVE GROWTH NEGATIVE IMPACT NEGATIVE RELATIONSHIP NEGATIVE SIGN NEOCLASSICAL GROWTH NEOCLASSICAL GROWTH MODEL NEOCLASSICAL GROWTH THEORY NET EFFECT NET EXPORTS 0 HYPOTHESIS OBSERVED GROWTH OPTIMIZATION PER CAPITA GROWTH PER CAPITA INCOME POLICY REFORM POLICY RESEARCH POLICY REVIEW POLITICAL ECONOMY POLITICAL ECONOMY CHANNEL POLITICAL INSTITUTIONS POLITICAL STABILITY POSITIVE CORRELATION POSITIVE EFFECT POSITIVE EFFECTS POSITIVE GROWTH POSITIVE RELATIONSHIP POSITIVE SPILLOVER POSITIVE SPILLOVER EFFECTS POWER PARITY PRIVATE INVESTMENT PRIVATE SECTOR PRODUCTION FUNCTION PRODUCTION FUNCTIONS PRODUCTIVITY PRODUCTIVITY GROWTH PROPERTY RIGHTS PROTECTIONISM PUBLIC ENTERPRISES PUBLIC POLICIES PURCHASING POWER PURCHASING POWER PARITY QUANTILE REGRESSIONS RANDOM WALK RE-EXPORTS REAL EFFECTIVE EXCHANGE RATE REAL EXCHANGE RATE REAL GDP REAL GROWTH REGIONAL DUMMIES REGIONAL GROWTH REGRESSION RESULTS RELATIVE PRICES RENT SEEKING RESOURCE ENDOWMENTS SENSITIVITY ANALYSIS STANDARD DEVIATION STATISTICAL ANALYSIS TARIFF BARRIERS TOTAL EXPORTS TOTAL FACTOR PRODUCTIVITY TOTAL FACTOR PRODUCTIVITY GROWTH TRADE DATA TRADE MOVEMENTS TRADE PATTERNS TRADE POLICY TRADE REGIMES TRADE RESTRICTIONS UNCERTAINTY WEALTH WORLD DEVELOPMENT INDICATORS The debate over the curse of natural resources has haunted developing countries for decades if not centuries. A review of existing empirical evidence suggests that the curse remains elusive. The fragile negative effect of natural resources on economic growth might be due to international heterogeneity in the effects of natural resources on economic growth, to the use of weak indicators of natural resources that might be unrelated to relative natural-resource endowments, or to the inability of econometric analysis based on international data to capture historical processes. This paper defends an empirical proxy for relative abundance of natural resources, which is based on standard growth theory. In turn, various econometric estimations are hopelessly deployed in the search for the missing resource curse. Some evidence suggests that natural resources might have large positive effects whose true magnitude remains unknown due to unresolved econometric issues. 2012-06-01T18:35:58Z 2012-06-01T18:35:58Z 2008-11 http://documents.worldbank.org/curated/en/2008/11/9993216/search-missing-resource-curse http://hdl.handle.net/10986/6901 English Policy Research Working Paper; No. 4766 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research