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Savings, growth and the resource curse hypothesis

Atkinson, Giles and Hamilton, Kirk (2003) Savings, growth and the resource curse hypothesis. World Development, 31 (11). pp. 1793-1807. ISSN 0305-750X

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Abstract

An important connection between recent attempts to understand the determinants of economic growth and the measurement of sustainability is the finding of a negative and significant relationship between natural resource abundance and economic growth. This is the so-called resource curse hypothesis. Using cross-country regressions, we offer evidence that the curse may itself be a manifestation of the inability of governments to manage large resource revenues sustainably. In particular, these results offer another perspective on the resource curse hypothesis: the countries where growth has lagged are those where the combination of natural resource, macroeconomic and public expenditure policies have led to a low rate of genuine saving (net saving adjusted for resource depletion).

Item Type: Article
Official URL: http://www.journals.elsevier.com/world-development...
Additional Information: © 2003 Elsevier
Library of Congress subject classification: H Social Sciences > HB Economic Theory
Journal of Economic Literature Classification System: Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q0 - General > Q01 - Sustainable Development
Sets: Departments > Geography and Environment
Collections > Economists Online
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 16 Nov 2007
URL: http://eprints.lse.ac.uk/2882/

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