Neoclassical growth and the natural resource curse puzzle
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10045/23705
Title: | Neoclassical growth and the natural resource curse puzzle |
---|---|
Authors: | Guillo, Maria Dolores | Pérez Sebastián, Fidel |
Research Group/s: | Grupo de Estudios de Paz y Desarrollo (GEPYD) | Análisis Económico |
Center, Department or Service: | Universidad de Alicante. Departamento de Métodos Cuantitativos y Teoría Económica | Universidad de Alicante. Departamento de Fundamentos del Análisis Económico |
Keywords: | Neoclassical growth | Resource curse | Convergence |
Knowledge Area: | Fundamentos del Análisis Económico |
Issue Date: | Jul-2012 |
Publisher: | Universidad de Alicante. Departamento de Métodos Cuantitativos y Teoría Económica |
Citation: | GUILLÓ, María Dolores; PÉREZ-SEBASTIÁN, Fidel. Neoclassical growth and the natural resource curse puzzle. QM&ET Working Papers 12-14 |
Abstract: | The traditional view that natural riches increase the wealth of nations has been recently challenged by empirical findings that point out that natural inputs are negatively related to growth. This paper shows, within a two-sector neo-classical growth model with international trade in goods, that these two views can be reconciled. Natural inputs directly affect both long-run income and transitional growth. These two effects can be positive or negative depending on input elasticities. Furthermore, they go in opposite directions, creating a tension that complicates the interpretation of estimated-coefficient signs in growth regressions. Quantitative results show that the two effects can be significant. |
Sponsor: | This research was partially supported by the Spanish Ministry of Science and Technology, SEJ 2007-62656, FEDER funds, and by the Instituto Valenciano de Investigaciones Económicas. |
URI: | http://hdl.handle.net/10045/23705 |
Language: | eng |
Type: | info:eu-repo/semantics/workingPaper |
Peer Review: | si |
Appears in Collections: | INV - GEPYD - Working Papers INV - Análisis Económico - Working Papers INV - DMCTE - Working Papers |
Files in This Item:
File | Description | Size | Format | |
---|---|---|---|---|
2012_Guillo_PerezSebastian_QM&ET_WP.pdf | 481,53 kB | Adobe PDF | Open Preview | |
Items in RUA are protected by copyright, with all rights reserved, unless otherwise indicated.