The resource curse exorcised: Evidence from a panel of countries

• 成果类型: Article
• 署名作者: Smith, Brock
• 署名单位: University of Oxford
• 刊物名称: JOURNAL OF DEVELOPMENT ECONOMICS
• ISSN/ISSBN: 0304-3878
• DOI: 10.1016/j.jdeveco.2015.04.001
• 发表日期: 2015
• 页码: 57-73
• 关键词: Natural resource curse; GDP regressions; Synthetic controls; Oil discoveries

摘要

This paper evaluates the impact of major natural resource discoveries since 1950 on GDP per capita. Using panel fixed-effects estimation and resource discoveries in countries that were not previously resource-rich as a plausibly exogenous source of variation, I find a positive effect on GDP per capita levels following resource exploitation that persists in the long term. Results vary significantly between OECD and non-OECD treatment countries, with effects concentrated within the non-OECD group. I further test GDP effects with synthetic control analysis on each individual treated country, yielding results consistent with the average effects found with the fixed-effects model. (C) 2015 Elsevier B.V. All rights reserved.