The relative richness of the poor?: Natural resources, human capital, and economic growth
"Are natural resources a blessing or a curse? Bravo-Ortega and De Gregorio present a model in which natural resources have a positive effect on the level of income and a negative effect on its growth rate. The positive and permanent effect on income implies a welfare gain. There is a growth eff...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C]
World Bank
2005
|
| Schriftenreihe: | Policy research working paper
3484 |
| Schlagworte: | |
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| Zusammenfassung: | "Are natural resources a blessing or a curse? Bravo-Ortega and De Gregorio present a model in which natural resources have a positive effect on the level of income and a negative effect on its growth rate. The positive and permanent effect on income implies a welfare gain. There is a growth effect stemming from a composition effect. However, the authors show that this effect can be offset by having a large level of human capital. They test their model using panel data for the period 1970--90. They extend the usual specifications for economic growth regressions by incorporating an interaction term between human capital and natural resources, showing that high levels of human capital may outweigh the negative effects of the natural resource abundance on growth. The authors also review the historical experience of Scandinavian countries, which in contrast to Latin America, another region well-endowed with natural resources, shows how it is possible to grow fast based on natural resources. This paper is a product of the Office of the Chief Economist, Latin America and the Caribbean Region"--World Bank web site |
| Beschreibung: | Includes bibliographical references. - Title from PDF file as viewed on 1/11/2005 Erscheinungsjahr in Vorlageform:[2005] |
| Beschreibung: | 1 Online-Ressource |
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| 245 | 1 | 0 | |a The relative richness of the poor? |b Natural resources, human capital, and economic growth |c Claudio Bravo-Ortega and Jose de Gregorio |
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| 520 | 1 | |a "Are natural resources a blessing or a curse? Bravo-Ortega and De Gregorio present a model in which natural resources have a positive effect on the level of income and a negative effect on its growth rate. The positive and permanent effect on income implies a welfare gain. There is a growth effect stemming from a composition effect. However, the authors show that this effect can be offset by having a large level of human capital. They test their model using panel data for the period 1970--90. They extend the usual specifications for economic growth regressions by incorporating an interaction term between human capital and natural resources, showing that high levels of human capital may outweigh the negative effects of the natural resource abundance on growth. The authors also review the historical experience of Scandinavian countries, which in contrast to Latin America, another region well-endowed with natural resources, shows how it is possible to grow fast based on natural resources. This paper is a product of the Office of the Chief Economist, Latin America and the Caribbean Region"--World Bank web site | |
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| id | DE-604.BV040618089 |
| illustrated | Not Illustrated |
| indexdate | 2024-08-27T04:16:43Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-025445588 |
| oclc_num | 874232890 |
| open_access_boolean | |
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| physical | 1 Online-Ressource |
| psigel | ZDB-1-WBA |
| publishDate | 2005 |
| publishDateSearch | 2005 |
| publishDateSort | 2005 |
| publisher | World Bank |
| record_format | marc |
| series2 | Policy research working paper |
| spellingShingle | Bravo Ortega, Claudio The relative richness of the poor? Natural resources, human capital, and economic growth Mathematisches Modell Wirtschaftsentwicklung |
| title | The relative richness of the poor? Natural resources, human capital, and economic growth |
| title_auth | The relative richness of the poor? Natural resources, human capital, and economic growth |
| title_exact_search | The relative richness of the poor? Natural resources, human capital, and economic growth |
| title_full | The relative richness of the poor? Natural resources, human capital, and economic growth Claudio Bravo-Ortega and Jose de Gregorio |
| title_fullStr | The relative richness of the poor? Natural resources, human capital, and economic growth Claudio Bravo-Ortega and Jose de Gregorio |
| title_full_unstemmed | The relative richness of the poor? Natural resources, human capital, and economic growth Claudio Bravo-Ortega and Jose de Gregorio |
| title_short | The relative richness of the poor? |
| title_sort | the relative richness of the poor natural resources human capital and economic growth |
| title_sub | Natural resources, human capital, and economic growth |
| topic | Mathematisches Modell Wirtschaftsentwicklung |
| topic_facet | Mathematisches Modell Wirtschaftsentwicklung |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3484 |
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