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Natural Wealth and Economic Growth: The Case of Sub-Saharan Africa

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  • Otaviano Canuto
  • Christos Daoulas

Abstract

This note approaches the relationship between natural wealth and economic growth, using the case of Sub-Sahara African economies as an illustration. Delving into recent World Bank reports, it highlights how a sustained positive correlation between natural capital and GDP growth happens through the transformation of the former into other forms of assets: produced capital, human capital and other intangible assets. Governance features and the quality of macroeconomic policies are of the essence for such a benign trajectory to take place.

Suggested Citation

  • Otaviano Canuto & Christos Daoulas, 2019. "Natural Wealth and Economic Growth: The Case of Sub-Saharan Africa," Research papers & Policy papers on Economic Trends and Policies 1911, Policy Center for the New South.
    • Handle: RePEc:ocp:rpaeco:pp_19-12
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    References listed on IDEAS

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    1. Canuto, Otaviano & Cavallari, Matheus, 2012. "Natural Capital and the Resource Curse," World Bank - Economic Premise, The World Bank, issue 83, pages 1-6, May.
    2. Anthony Venables & Paul Collier, 2009. "Natural Resources and State Fragility," OxCarre Working Papers 031, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
    3. Glenn-Marie Lange & Quentin Wodon & Kevin Carey, 2018. "The Changing Wealth of Nations 2018," World Bank Publications - Books, The World Bank Group, number 29001.
    4. Ivailo Izvorski & Souleymane Coulibaly & Djeneba Doumbia & Ivailo Izvorski, 2018. "Reinvigorating Growth in Resource-Rich Sub-Saharan Africa," World Bank Publications - Reports 30399, The World Bank Group.
    5. Agénor, Pierre-Richard & Canuto, Otaviano, 2015. "Gender equality and economic growth in Brazil: A long-run analysis," Journal of Macroeconomics, Elsevier, vol. 43(C), pages 155-172.
    6. Canuto, Otaviano & Dutz, Mark & Reis, José Guilherme, 2010. "Technological Learning and Innovation: Climbing a Tall Ladder," World Bank - Economic Premise, The World Bank, issue 21, pages 1-8, July.
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