The Relative Richness of the Poor? Natural Resources, Human Capital and Economic Growth

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dc.creatorBravo-Ortega, Claudio
dc.creatorde Gregorio, José
dc.date2012-06-25T15:11:20Z
dc.date2012-06-25T15:11:20Z
dc.date2005-01
dc.date.accessioned2026-07-01T01:25:10Z
dc.descriptionAre natural resources a blessing or a curse? The authors present a model in which natural resources have a positive effect on the level of income and a negative effect on its growth rate. The positive and permanent effect on income implies a welfare gain. There is a growth effect stemming from a composition effect. However, the authors show that this effect can be offset by having a large level of human capital. They test their model using panel data for the period 1970-90. They extend the usual specifications for economic growth regressions by incorporating an interaction term between human capital and natural resources, showing that high levels of human capital may outweigh the negative effects of the natural resource abundance on growth. The authors also review the historical experience of Scandinavian countries, which in contrast to Latin America, another region well-endowed with natural resources, shows how it is possible to grow fast based on natural resources.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2005/01/5606846/relative-richness-poor-natural-resources-human-capital-economic-growth
dc.identifierhttps://hdl.handle.net/10986/8923
dc.identifierhttps://doi.org/10.1596/1813-9450-3484
dc.identifier.urihttp://hdl.handle.net/123456789/417914
dc.languageEnglish
dc.languageen_US
dc.publisherWorld Bank, Washington, DC
dc.relationPolicy Research Working Paper; No. 3484
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectBENCHMARK
dc.subjectBILATERAL TRADE
dc.subjectCAPITAL ACCUMULATION
dc.subjectCAPITAL FLOWS
dc.subjectCAPITAL INCREASES
dc.subjectCAPITAL MOBILITY
dc.subjectCAPITAL STOCK
dc.subjectCD
dc.subjectCENTRAL BANK
dc.subjectCOMPARATIVE ADVANTAGES
dc.subjectCONCEPTUAL FRAMEWORK
dc.subjectCONSTANT RETURNS TO SCALE
dc.subjectCONVERGENCE HYPOTHESIS
dc.subjectDEBT
dc.subjectDEPOSITS
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC HISTORY
dc.subjectECONOMIC RENTS
dc.subjectECONOMIC STRUCTURES
dc.subjectECONOMICS
dc.subjectECONOMISTS
dc.subjectELASTICITY
dc.subjectEMPIRICAL ANALYSIS
dc.subjectEMPIRICAL EVIDENCE
dc.subjectENDOWMENTS
dc.subjectEQUILIBRIUM
dc.subjectEXCHANGE RATE
dc.subjectEXPLOITATION
dc.subjectEXPORTS
dc.subjectFISCAL POLICY
dc.subjectFISHING
dc.subjectFORESTRY
dc.subjectFREE TRADE
dc.subjectFUELS
dc.subjectGDP
dc.subjectGDP PER CAPITA
dc.subjectGROWTH RATE
dc.subjectGROWTH THEORY
dc.subjectHUMAN CAPITAL
dc.subjectIMPERFECT COMPETITION
dc.subjectIMPORTS
dc.subjectINCOME
dc.subjectINCOME INEQUALITY
dc.subjectINCOME LEVELS
dc.subjectINTERNATIONAL TRADE
dc.subjectLABOR FORCE
dc.subjectLATIN AMERICAN
dc.subjectMIGRATION
dc.subjectMORTALITY
dc.subjectNATURAL RESOURCE EXPLOITATION
dc.subjectNATURAL RESOURCES
dc.subjectNET EXPORTS
dc.subjectPHYSICAL CAPITAL
dc.subjectPOLITICAL ECONOMY
dc.subjectPRODUCTION FUNCTIONS
dc.subjectPRODUCTIVITY
dc.subjectPROFITABILITY
dc.subjectREGRESSION ANALYSIS
dc.subjectSANITATION
dc.subjectSCALE EFFECTS
dc.subjectTERMS OF TRADE
dc.subjectTOTAL FACTOR PRODUCTIVITY
dc.subjectTOTAL OUTPUT
dc.subjectTRADE POLICIES
dc.titleThe Relative Richness of the Poor? Natural Resources, Human Capital and Economic Growth

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