Natural Capital and the Resource Curse

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collection.link.171
https://openknowledge.worldbank.org/handle/10986/9402
collection.name.171
Economic Premise
dc.contributor.author
Canuto, Otaviano
dc.contributor.author
Cavallari, Matheus
dc.date.accessioned
2012-08-13T10:14:45Z
dc.date.available
2012-08-13T10:14:45Z
dc.date.issued
2012-05
dc.description.abstract
An abundance of natural resources is intuitively expected to be a blessing. Nonetheless, it has been argued for some decades that large endowments of natural resources oil, gas, and minerals in particular may actually become more of a curse, often leading to slow economic growth and redistributive struggles (including armed conflict). Over the years, vast empirical literature has addressed this "paradox." The literature has had to rely on proxies for natural resource abundance because of the lack of appropriate data, generating doubt on whether results would be similar if direct measures of natural wealth were available. This gap is now starting to be filled with the data series released by the World Bank (1997, 2006, 2011) on natural capital and other forms of countries' wealth. This note presents an analysis of these data to revisit some of the conclusions reached in the literature on the relationship between natural resource abundance and economic growth. The findings are in alignment with the view that there is no clear deterministic evidence of natural resource abundance as a curse or a blessing; therefore, the effect on a country depends on other determinants.
en
dc.identifier
http://documents.worldbank.org/curated/en/2012/05/16290781/natural-capital-resource-curse
dc.identifier.uri
http://hdl.handle.net/10986/10042
dc.language
English
dc.publisher
World Bank, Washington, DC
dc.relation.ispartofseries
Economic Premise; No. 83
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo/
dc.subject
ABUNDANCE
dc.subject
ACCOUNTING
dc.subject
AGRICULTURE
dc.subject
AMERICAN ECONOMIC REVIEW
dc.subject
ASSETS
dc.subject
CAPITAL ACCUMULATION
dc.subject
CAPITALS
dc.subject
COMMODITY
dc.subject
COMMODITY PRICES
dc.subject
DEVELOPING COUNTRIES
dc.subject
DEVELOPMENT STRATEGY
dc.subject
ECONOMIC DEVELOPMENT
dc.subject
ECONOMIC GROWTH
dc.subject
ECONOMIC MANAGEMENT
dc.subject
ECONOMIC RESEARCH
dc.subject
EXPORTS
dc.subject
FACTORS OF PRODUCTION
dc.subject
FOREIGN ASSETS
dc.subject
GDP
dc.subject
GDP PER CAPITA
dc.subject
GLOBAL ECONOMIC PROSPECTS
dc.subject
GOOD GOVERNANCE
dc.subject
GROSS DOMESTIC PRODUCT
dc.subject
HUMAN CAPITAL
dc.subject
INCOME
dc.subject
INCOME GROUP
dc.subject
INCOME LEVELS
dc.subject
INTANGIBLE
dc.subject
INTERNATIONAL DEVELOPMENT
dc.subject
INVESTMENT MANAGEMENT
dc.subject
INVESTMENT RATES
dc.subject
LOW INCOME
dc.subject
LOW-INCOME COUNTRIES
dc.subject
MIDDLE INCOME
dc.subject
MIDDLE-INCOME COUNTRIES
dc.subject
MISMANAGEMENT
dc.subject
NATIONAL ACCOUNTS
dc.subject
NATIONAL INCOME
dc.subject
NATURAL CAPITAL
dc.subject
NATURAL RESOURCE
dc.subject
NATURAL RESOURCES
dc.subject
NET FOREIGN ASSETS
dc.subject
PER CAPITA INCOME
dc.subject
PER CAPITA INCOME LEVELS
dc.subject
PORTFOLIO
dc.subject
PRESENT VALUE
dc.subject
PRODUCTIVE ASSETS
dc.subject
PROPERTY RIGHTS
dc.subject
PUBLIC INVESTMENT
dc.subject
RENT SEEKING
dc.subject
REVIEW OF ECONOMICS
dc.subject
SAVINGS
dc.subject
STAGNATION
dc.subject
STATEMENT
dc.subject
SUSTAINABLE DEVELOPMENT
dc.subject
TAX
dc.subject
TAX REVENUES
dc.subject
TECHNICAL ASSISTANCE
dc.subject
TECHNOLOGICAL CHANGE
dc.subject
TRADE OPENNESS
dc.subject
TRANSPARENCY
dc.subject
VOLATILITY
dc.subject
WEALTH
dc.subject
WORLD DEVELOPMENT INDICATORS
dc.title
Natural Capital and the Resource Curse
en
okr.date.disclosure
2012-05-30
okr.doctype
Publications & Research :: Brief
okr.doctype
Publications & Research
okr.docurl
http://documents.worldbank.org/curated/en/2012/05/16290781/natural-capital-resource-curse
okr.globalpractice
Macroeconomics and Fiscal Management
okr.globalpractice
Finance and Markets
okr.globalpractice
Trade and Competitiveness
okr.googlescholar.linkpresent
yes
okr.identifier.externaldocumentum
000333038_20120531001322
okr.identifier.internaldocumentum
16290781
okr.identifier.report
69260
okr.language.supported
en
okr.pdfurl
http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/05/31/000333038_20120531001322/Rendered/PDF/692600BRI0EP8305030020120Box369273B.pdf
en
okr.topic
Macroeconomics and Economic Growth :: Investment and Investment Climate
okr.topic
Macroeconomics and Economic Growth :: Economic Conditions and Volatility
okr.topic
Banks and Banking Reform
okr.topic
Economic Theory and Research
okr.topic
Private Sector Development :: Emerging Markets
okr.topic
Finance and Financial Sector Development
okr.unit
Office of VP & Head of Network (PRMVP)
okr.volume
1 of 1

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