|
This paper explores the question of whether mineral
resource wealth is an economic blessing or curse, particularly
for developing nations where growth and reduction of poverty are
vital. It does this by examining the relationship between natural
resources and economic growth and the interaction between
institutions and natural resources. We consider four categories
of natural resources: [1] agricultural raw materials, [2] fuel,
[3] food, and [4] ores and metals. Resource wealth was
significant in our testing on economic growth but only the last
category turned out to be significant on its own as the effect
upon economic growth of agricultural raw materials, fuel, and
food, when tested independently, did not reach a level of
statistical significance.
|