Neoclassical growth and the natural resource curse puzzle

Guilló, María Dolores; Pérez-Sebastián, Fidel

doi:10.1016/j.jinteco.2015.06.002

Cited by 14 publications

(6 citation statements)

References 43 publications

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“…Similar results for the US states can be found inBoyce and Emery (2011) andGuilló and Perez-Sebastian (2015), from a theoretical and empirical point of view.4 James (2015a) also provides evidence of this fact using cross-country data during certain periods which are selected in order to follow oil price booms and busts. In contrast, for a set of countries,Alexeev and Conrad (2009) show that mineral resources in general have a positive impact on per capita income levels.…”

mentioning

confidence: 58%

Resource-Richness and Economic Growth in Contemporary U.S.

Jaimes

Gerlagh

2017

SSRN Journal

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confidence: 58%

Resource-Richness and Economic Growth in Contemporary U.S.

Jaimes

Gerlagh

2017

SSRN Journal

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“…In developing a wider understanding of the domestic implications of energy resource exports, the so called "resource curse" or "paradox of plenty" [31][32][33][34] is relevant and should be considered. At a high level, the basic premise of the resource curse is that without careful governance and financial management, countries experiencing a significant increase in GDP due to natural resource exports have frequently experienced considerable wider negative economic outcomes.…”

Section: Literature Reviewmentioning

confidence: 99%

Energy Security Blind Spots of Gas, Oil, and Coal Exporters

Curtis,

McLellan

2024

Methane

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The global narrative around domestic energy security is dominated by the paradigm of import-dependent countries, and as a result the interactions of energy export activities with domestic energy systems are not generally considered. In this paper, we apply a systems approach to establish two potential blind spots in evaluating the whole-of-system energy security of energy resource exporters (actual primary energy self-sufficiency and export exposure of the domestic energy system), and examine some case studies, primarily in the Australian context, to validate the existence of these blind spots. The commencement of LNG exports from the state of Queensland is examined in detail. Furthermore, we propose two novel quantitative indicators to mitigate the blind spots established. First, a revised method is proposed to calculate energy self-sufficiency, showing for the exporters studied a less secure position than shown by the traditional method. Second, an indicator is proposed to quantify the extent of exposure of the domestic energy system to international markets through export linkages, which we have applied to Australia’s domestic energy system, showing the extent of the increase in international exposure since LNG exports from Queensland commenced in 2015–2016. Conclusions of this paper include the realization that domestic energy security for energy exporters, such as Australia and the other countries examined, is more complex and, in the cases examined, less secure than importer-oriented energy security frameworks have previously recognized. A further conclusion is established that the decoupling of energy resource exports from the domestic energy system through transition to a zero-carbon energy system based on domestic renewable energy sources can be an effective means of improving Australia’s energy security.

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“…The argument that resource abundance and dependence may lead to slower economic growth is not new. The resource curse hypothesis is a phenomenon frequently associated with the "Dutch disease" effect caused by some exogenous influence, such as trade liberalization or a resource price boom (Gelb, 1988;Gylfason, 2001). According to Sachs and Warner (1995), dependence on natural resources negatively affects economic growth.…”

Section: Literature Reviewmentioning

confidence: 99%

“…This became evident when resource‐rich countries such as Venezuela, Nigeria, and the Republic of Congo experienced lower growth; while countries with limited resources, such as Singapore, South Korea, and others experienced buoyant growth per capita (Lotfalipour & Salehnia, 2022). This discovery led to growing research into examining the effect of natural resources on economic growth (Dramani et al, 2022; Guilló & Perez‐Sebastian, 2015; Kim & Lin, 2017; Rjoub et al, 2021). Using quantitative analysis to examine the neoclassical growth and the natural resource curse puzzles within 49 states in the United States of America, Guilló and Perez‐Sebastian (2015) defined resource‐rich and poor groups of states in different ways and found that 10% richest states on average, 1.39% points slower than the 10% resource‐poor.…”

Section: Literature Reviewmentioning

confidence: 99%

Natural resource dependence, policy and institutions for environmental sustainability and African welfare

Mpuure,

Mengba

2023

Sustainable Development

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In developing countries, particularly in Africa, dependence on natural resources poses a threat to development, leading to poor health, reduced productivity, and increased poverty among nations. This raises significant concerns for the prospects and welfare of Africa, given the rising environmental pollution. However, the literature on the mitigating effect of policies and institutions for environmental sustainability (PIES) on resource‐dependent countries in Africa is scarce. As a result, this study explores the effects of natural resource dependence and the mediating effect of PIES on under‐five mortality and human development in Africa. This novel hypothesis may contribute to the divergent differences in African welfare. Using a panel of 30 resource‐dependent countries spanning 2005 to 2021 and employing the two‐step dynamic generalized method of moments, the study provides evidence in support of the novel hypothesis. The findings show that dependence on natural resources can be either a blessing or a curse for African countries, depending on the degree to which environmental sustainability is embraced. Furthermore, a heterogeneous analysis demonstrates significant support for countries with high policies and institutions for environmental sustainability in mitigating the negative impacts of natural resource dependence on welfare. The study concludes that dependence on natural resources without environmental sustainability cannot guarantee a balance between the well‐being of the economy and the environment. Therefore, environmental management should not be politically motivated so as to sustainably improve human well‐ being in Africa.

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Neoclassical growth and the natural resource curse puzzle

Cited by 14 publications

References 43 publications

Resource-Richness and Economic Growth in Contemporary U.S.

Resource-Richness and Economic Growth in Contemporary U.S.

Energy Security Blind Spots of Gas, Oil, and Coal Exporters

Natural resource dependence, policy and institutions for environmental sustainability and African welfare

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