The curse of natural resources in the transition economies*
Tóm tắt
The curse of natural resources is a well‐documented phenomenon for developing countries. Economies that are richly endowed with natural resources tend to grow slowly. Among the transition economies of the former ‘Eastern Bloc’, a similar pattern can be observed. This paper shows that a large part of the variation in growth rates among the transition economies can be attributed to the curse of natural resources. After controlling for numerous other factors, there is still a strong negative correlation between natural resource abundance and economic growth.
Among the transition economies the prime reasons for the curse of natural resources were corruption and a neglect of basic education. In order to overcome the curse of natural resources and move to a sustainable path of development, the resource abundant transition countries should fight corruption and ensure that their resource revenues are invested in human capital or the preservation of natural capital.
Từ khóa
Tài liệu tham khảo
Aghion P., 1998, ‘Endogenous Growth Theory’
Auty R. M., 2001, Resource Abundance and Economic Development
Bardhan P., 1997, ‘Corruption and development: A review of issues’, Journal of Economic Literature, 1320
Birdsall N., 2001, Resource Abundance and Economic Development
Doppelhofer G., 2000, NBER working paper No. 7750
Fidrmuc J., 2001, CEPR Discussion Paper No. 2641
Gylfason T., 2000, ‘Resources, agriculture, and economic growth in economics in transition’, Kyklos, 53, 546, 10.1111/1467-6435.00133
Hamilton K., 2001, Resource Abundance and Economic Development
Sachs J. D., 1995, NBER Working Paper No. 5398
Sachs J. D., 1997, ‘Fundamental sources of long‐run growth’, American Economic Review, 87, 184
Sala‐i‐Martin X., 1997, ‘I just ran two million regressions’, American Economic Review, 87, 178
Stevens P., 2003, ‘Resource Impact – Curse or Blessing? A Literature Review’
Stiftung Entwicklung und Frieden, 2002, ‘Globale Trends 2002’
TransMONEE2002Database UNICEF IRC Florence.
UNESCO online database:http://www.uis.unesco.org.
United Nations Economic Commission for Europe, 2001, Economic Survey of Europe 2001 No.1
US Census Bureau:http://www.census.gov/ipc/www/idbnew.html.
Wikipedia:http://en.wikipedia.org/wiki/Aral_Sea.