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Curse or Blessing? An Empirical Re‐examination of Natural Resource‐Growth Nexus

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  • Halit Yanıkkaya
  • Taner Turan

Abstract

This study re‐examines the natural resource abundance‐growth nexus for a large sample of countries. Our findings indicate that total resource, coal, mineral, natural gas and oil rents have significantly positive effects on growth while forest rents have negative effects. While estimation results show that coal and mineral rents raise growth for resource poor countries, natural gas and oil rents (forest rents) raise (lower) growth for resource‐rich countries. Overall, our results fail to support the natural resource curse hypothesis. On the contrary, we can conclude that, except for forest rents, resource rents appear to be a blessing rather than a curse. Copyright © 2018 John Wiley & Sons, Ltd.

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  • Halit Yanıkkaya & Taner Turan, 2018. "Curse or Blessing? An Empirical Re‐examination of Natural Resource‐Growth Nexus," Journal of International Development, John Wiley & Sons, Ltd., vol. 30(8), pages 1455-1473, November.
    • Handle: RePEc:wly:jintdv:v:30:y:2018:i:8:p:1455-1473
    DOI: 10.1002/jid.3374
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    1. Sinha, Avik & Sengupta, Tuhin, 2019. "Impact of natural resource rents on human development: What is the role of globalization in Asia Pacific countries?," Resources Policy, Elsevier, vol. 63(C), pages 1-1.
    2. Chachu, Daniel Ofoe, 2020. "Domestic revenue displacement in resource-rich countries: What’s oil money got to do with it?," Resources Policy, Elsevier, vol. 66(C).
    3. Sharma, Chandan & Paramati, Sudharshan Reddy, 2022. "Resource curse versus resource blessing: New evidence from resource capital data," Energy Economics, Elsevier, vol. 115(C).
    4. Sha, Zhiping, 2022. "Total natural resources, oil prices, and sustainable economic performance: Evidence from global data," Resources Policy, Elsevier, vol. 79(C).
    5. Inuwa, Nasiru & Adamu, Sagir & Hamza, Yusuf & Sani, Mohammed Bello, 2023. "Does dichotomy between resource dependence and resource abundance matters for resource curse hypothesis? New evidence from quantiles via moments," Resources Policy, Elsevier, vol. 81(C).
    6. Taner Turan & Halit Yanıkkaya, 2020. "Natural resource rents and capital accumulation nexus: do resource rents raise public human and physical capital expenditures?," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 22(3), pages 449-466, July.
    7. Redmond, Trumel & Nasir, Muhammad Ali, 2020. "Role of natural resource abundance, international trade and financial development in the economic development of selected countries," Resources Policy, Elsevier, vol. 66(C).
    8. Kang Zhao & Rui Zhang & Hong Liu & Geyi Wang & Xialing Sun, 2021. "Resource Endowment, Industrial Structure, and Green Development of the Yellow River Basin," Sustainability, MDPI, vol. 13(8), pages 1-18, April.
    9. Hodor Mădălina Andreea & Clodnitchi Roxana, 2021. "Resource abundance as an indicator of economic development in selected countries," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 15(1), pages 218-227, December.
    10. Chala Amante Abate & Dagim Tadesse Bekele & Belisty Bekalu Ayenew & Adisu Abebaw Degu, 2023. "The Relationship Between Natural Resource Rent and Economic Growth in Nigeria," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 13(4), pages 3-25.
    11. Gemicioğlu, Selçuk & Soyhan, Sinem & Mollavelioğlu, M. Şükrü, 2024. "Do natural resources lead to a curse or blessing in terms of income inequality?," Resources Policy, Elsevier, vol. 88(C).
    12. Hafezali Iqbal Hussain & Muhammad Haseeb & Manuela Tvaronavičienė & Leonardus W. W. Mihardjo & Kittisak Jermsittiparsert, 2020. "The Causal Connection of Natural Resources and Globalization with Energy Consumption in Top Asian Countries: Evidence from a Nonparametric Causality-in-Quantile Approach," Energies, MDPI, vol. 13(9), pages 1-18, May.

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