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: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C]
World Bank
[2005]
|
| Schriftenreihe: | Policy research working paper
3484 |
| Schlagworte: | |
| Online-Zugang: | BSB01 EUV01 HTW01 FHI01 IOS01 Volltext |
| 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 |
| Beschreibung: | 1 Online-Ressource |
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| spelling | Bravo-Ortega, Claudio Verfasser aut The relative richness of the poor? Natural resources, human capital, and economic growth Claudio Bravo-Ortega and Jose de Gregorio [Washington, D.C] World Bank [2005] 1 Online-Ressource txt rdacontent c rdamedia cr rdacarrier Policy research working paper 3484 Includes bibliographical references Title from PDF file as viewed on 1/11/2005 "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 Online-Ausg Also available in print Economic development Mathematical models Human capital Mathematical models Income Mathematical models Natural resources Mathematical models Poor Mathematical models De Gregorio, Jose Sonstige oth World Bank Sonstige oth Bravo-Ortega, Claudio The relative richness of the poor? http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3484 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Bravo-Ortega, Claudio The relative richness of the poor? Natural resources, human capital, and economic growth Economic development Mathematical models Human capital Mathematical models Income Mathematical models Natural resources Mathematical models Poor Mathematical models |
| 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_exact_search_txtP | 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 | Economic development Mathematical models Human capital Mathematical models Income Mathematical models Natural resources Mathematical models Poor Mathematical models |
| topic_facet | Economic development Mathematical models Human capital Mathematical models Income Mathematical models Natural resources Mathematical models Poor Mathematical models |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3484 |
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