Natural resources: neither curse nor destiny

Lederman, Daniel; Maloney, William F.

doi:10.5860/choice.44-5161

Cited by 32 publications

References 210 publications

(182 reference statements)

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Is There Really a Resource Curse? A Critical Survey of Theory and Evidence

John¹

2011

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This article provides a critical survey of the resource curse-the idea that mineral and fuel abundance generates negative developmental outcomes in less developed countries. In particular, it examines the idea that mineral and fuel abundance generates growth-restricting forms of state intervention, extraordinarily large degrees of rent seeking, and corruption, which are generally argued to be negative in terms of the developmental outcomes they generate. The analysis surveys the Dutch disease, rentier state, and rent-seeking versions of the resource curse and finds they have significant shortcomings in terms of theory and evidence. It also identifies some decisive factors that help determine the blessing threshold-below which the risk of a resource curse may be very high-in mineral and fuel abundant developing countries.

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Is There Really a Resource Curse? A Critical Survey of Theory and Evidence

John¹

2011

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The Impact of Governance on Economic Growth in Africa

Fayissa¹,

Nsiah²

2013

jda

131

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Sub-Sahara African countries have had a checkered past when it comes to good governance and institutions. Increasingly, economists and policy makers are recognizing the importance of governance and institutions for economic growth and development. The New Partnership for Africa’s Development (NEPAD) has four main goals: eradicating poverty, promoting sustainable growth and development, integrating Africa into the world’s economy, and accelerating the empowerment of women. Using fixed and random effects, and Arellano-Bond models, this paper investigates the role of governance in explaining the sub-optimal economic growth performance of African economies. Our results suggest that good governance or lack thereof, contributes to the differences in growth of African countries. Furthermore, our results indicate that the role of governance on economic growth depends on the level of income. In a nutshell, our results demonstrate that without the establishment and maintenance of good governance, achieving the goals of NEPAD will be hampered in Africa.

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Promoting Manufactuiring to Accelerate Economic Growth and Reduce Growth Volatility in Africa

Elhiraika¹,

Aboubakar²,

Muhammad³

2014

jda

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This paper investigates the role of economic transformation in the form of increased manufacturing share in aggregate output in accelerating growth and reducing growth volatility in Africa. Using cross-section time series data from 50 African countries, the paper examines the key determinants of growth in the share of manufacturing output in aggregate output and its relationship with real GDP growth and growth volatility. Results of system GMM estimation indicate that real GDP growth and domestic investment are among the key drivers of growth in the share of manufacturing output in total output and that growth in the latter has, in turn, the potential to raise GDP growth and reduce growth volatility. It is therefore argued that African countries should pursue effective strategies, including industrial policies and institutional reforms, to promote manufacturing and other innovative activities as a means to accelerate economic growth and diversification, and enhance employment creation.

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Natural resources: neither curse nor destiny

Cited by 32 publications

References 210 publications

Is There Really a Resource Curse? A Critical Survey of Theory and Evidence

Is There Really a Resource Curse? A Critical Survey of Theory and Evidence

The Impact of Governance on Economic Growth in Africa

Promoting Manufactuiring to Accelerate Economic Growth and Reduce Growth Volatility in Africa

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