THE IMPORTANCE OF NATURAL RESOURCES FOR ECONOMIC GROWTH: INTERNATIONAL EVIDENCE (CROSBI ID 734394)
Prilog sa skupa u zborniku | izvorni znanstveni rad | međunarodna recenzija
Podaci o odgovornosti
Šimić, Vladimir ; Malešević Perović, Lena ; Ćorić, Bruno
engleski
THE IMPORTANCE OF NATURAL RESOURCES FOR ECONOMIC GROWTH: INTERNATIONAL EVIDENCE
This study empirically investigates the importance of natural resources for economic growth. Natural resources can be thought of as both the blessing and the curse for growth, and theoretical arguments support both of these cases. Empirical literature is also ambiguous regarding the impact of natural resources on economic growth. In this paper, we allow for a broad set of growth determinants. In addition to the typical growth determinants like human and physical capital, a number of additional variables is tested including trade openness, government consumption, institutions, and, in particular, natural resources variables. Our investigation is conducted in a broad sample of countries amounting to as many as 138, with the data ranging from 1960 onwards. The panel data estimation techniques are applied using the 5- and 10-year averages. With the broad coverage of countries and use of modern econometric techniques, this study provides novel international evidence supporting the “curse” view of natural resources.
natural resources, economic growth, panel data
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Podaci o prilogu
17-34.
2023.
objavljeno
Podaci o matičnoj publikaciji
Družić, Gordan ; Rogić Dumančić, Lucija
Zagreb: Hrvatska akademija znanosti i umjetnosti (HAZU)
2718-3092
2718-3106
Podaci o skupu
International Conference on the Economics of the Decoupling (ICED)
predavanje
30.11.2022-01.12.2022
online ; Zagreb, Hrvatska