What effect does the presence of natural resources have on economic development? Jacob Moy.

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Presentation transcript:

What effect does the presence of natural resources have on economic development? Jacob Moy

Defining Abundance/Scarcity SXPSXP80 Bangladesh Nigeria Norway Taiwan SXP (Sachs and Warner 1997), SXP80 Affirming our case studies: – Oil production – Primary exports

The Findings Affirms “Dutch Disease Theory” – Resource abundance is an impediment to economic growth What about Norway? World Developing Developed (Europe) Nigeria Norway Bangladesh Taiwan (est.) Real GDP Growth Rates (USD-1990 Base) Data: UNCTAD Handbook of Statistics 2008

Elaborations: Major Petroleum Exporters: Developing Non-Major Petroleum Exporters: Developing Real GDP Growth Rates (USD-1990 Base Year) Data: UNCTAD Handbook of Statistics 2008

Summing Up Resource abundance impedes economic development – Poor diversification – Rent-Seeking Behavior – Short Sightedness Other Indicators of Poor Development?