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Natural resources and the wealth of nations in a globalized world economy

Author

Listed:
  • Matteo Cervellati

    (Universitat Pompeu et Università di Bologna)

  • Piergiuseppe Fortunato

    (EUREQua et Università di Bologna)

Abstract

We study the long run relationship between natural resources abundance and wealth of countries producing differentiated products sold in the international market. When the price (terms of trade) of national products depend on the human capital used to produce them, natural resources may lead to inferior long run production. This is the case if natural resources are neither irrelevant nor focal for the production possibilities of the economy

Suggested Citation

  • Matteo Cervellati & Piergiuseppe Fortunato, 2004. "Natural resources and the wealth of nations in a globalized world economy," Cahiers de la Maison des Sciences Economiques v04068, Université Panthéon-Sorbonne (Paris 1).
    • Handle: RePEc:mse:wpsorb:v04068
    as

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    File URL: ftp://mse.univ-paris1.fr/pub/mse/cahiers2004/V04068.pdf
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    References listed on IDEAS

    as
    1. Thorvaldur Gylfason, 2001. "Nature, Power and Growth," Scottish Journal of Political Economy, Scottish Economic Society, vol. 48(5), pages 558-588, November.
    2. repec:bla:scotjp:v:48:y:2001:i:5:p:558-88 is not listed on IDEAS
    3. Gary D. Hansen & Edward C. Prescott, 2002. "Malthus to Solow," American Economic Review, American Economic Association, vol. 92(4), pages 1205-1217, September.
    4. Gylfason, Thorvaldur, 2001. "Natural resources, education, and economic development," European Economic Review, Elsevier, vol. 45(4-6), pages 847-859, May.
    5. Gary D. Hansen & Edward C. Prescott, 2002. "Malthus to Solow," American Economic Review, American Economic Association, vol. 92(4), pages 1205-1217, September.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Natural resources; globalization; human capital;
    All these keywords.

    JEL classification:

    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O42 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Monetary Growth Models
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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