The Resource Curse Hypothesis: Dynamic Heterogeneous Approach
- Authors
- Kim, Dong-Hyeon; Lin, Shu-Chin
- Issue Date
- 2018
- Publisher
- ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
- Keywords
- dynamic panel; economic development; natural resources
- Citation
- EMERGING MARKETS FINANCE AND TRADE, v.54, no.12, pp.2698 - 2717
- Indexed
- SSCI
SCOPUS
- Journal Title
- EMERGING MARKETS FINANCE AND TRADE
- Volume
- 54
- Number
- 12
- Start Page
- 2698
- End Page
- 2717
- URI
- https://scholar.korea.ac.kr/handle/2021.sw.korea/80957
- DOI
- 10.1080/1540496X.2017.1372281
- ISSN
- 1540-496X
- Abstract
- Natural resources influence economic performance through many different mechanisms, both beneficial and harmful. Some of these mechanisms tend to set in fast while others are rather slow. This suggests that pooling the long- and short-run effect as typical in the resource empirical literature may lead to incorrect inferences. This article provides an evaluation of the income contribution of natural resources using a panel cointegration approach that allows for short-run dynamic heterogeneity while imposing the restriction of long-run homogeneity. It finds, in a sample of developing countries over the period 1990-2012, that natural resources are a curse in the long run. The evidence is robust to alternative dynamic specifications, different measures and types of natural resource wealth, and controlling for regional effects.
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- Appears in
Collections - College of Life Sciences and Biotechnology > Department of Food and Resource Economics > 1. Journal Articles
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