Publication detail

Natural Resources and Economic Growth: A Meta-Analysis

Author(s): prof. PhDr. Tomáš Havránek Ph.D.,
prof. Roman Horváth Ph.D.,
PhDr. Ayaz Zeynalov Ph.D.,
Type: IES Working Papers
Year: 2016
Number: 3
Published in: IES Working Papers 3/2016
Publishing place: Prague
Keywords: Natural resources, economic growth, institutions, publi- cation selection bias, meta-analysis
JEL codes: Q30, O13, C51
Suggested Citation: Havranek T., Horvath R., Zeynalov A. (2016). “ Natural Resources and Economic Growth: A Meta-Analysis ” IES Working Paper 03/2016. IES FSV. Charles University.
Grants: GACR 15-02411S Development and Applications of Meta-Regression Methods in Economics
Abstract: An important question in development studies is how abundance of natural resources affects long-term economic growth. No consensus answer, however, has yet emerged, with approximately 40% of empirical papers finding a negative effect, 40% finding no effect, and 20% finding a positive effect. Does the literature taken together imply the existence of the so-called natural resource curse? In a quantitative survey of 402 estimates reported in 33 studies, we find that overall support for the resource curse hypothesis is weak when potential publication bias and method heterogeneity are taken into account. Our results also suggest that three aspects of study design are especially effective in explaining the differences in results across studies: 1) including an interaction between natural resources and institutional quality, 2) controlling for the level of investment activity, and 3) distinguishing between different types of natural resources.
Downloadable: wp_2016_03_havranek_et_al


Česká Spořitelna


Patria Finance