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Does the “resource curse” hold for growth in genuine income as well?

Neumayer, Eric (2004) Does the “resource curse” hold for growth in genuine income as well? World Development, 32 (10). pp. 1627-1640. ISSN 0305-750X

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Abstract

Existing studies analyzing the so-called ‘resource curse’ hypothesis regress growth in gross domestic product (GDP) on some measure of resource-intensity. This is problematic as GDP counts natural and other capital depreciation as income. Deducting depreciation from GDP to arrive at genuine income, we test whether the ‘curse’ still holds true. We find supporting evidence, but the growth disadvantage of resource-intensive economies is slightly weaker in terms of genuine income than GDP. We suggest that this provides additional, but somewhat weak and limited, evidence in support of those who argue that the ‘curse’ is partly due to unsustainable over-consumption.

Item Type: Article
Official URL: http://www.elsevier.com/locate/worlddev
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Library of Congress subject classification: H Social Sciences > H Social Sciences (General)
Sets: Departments > Geography and Environment
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 18 May 2006
URL: http://eprints.lse.ac.uk/626/

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