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

2. Defining Abundance/Scarcity SXPSXP80 Bangladesh0.010.2 Nigeria0.140.30 Norway0.100.22 Taiwan0.020.01 SXP (Sachs and Warner 1997), SXP80 Affirming our case studies: – Oil production – Primary exports

3. The Findings Affirms “Dutch Disease Theory” – Resource abundance is an impediment to economic growth What about Norway? 1970-801980-902006 World3.83.24.0 Developing5.83.97.1 Developed (Europe) 3.02.62.9 Nigeria4.42.35.3 Norway4.72.62.9 Bangladesh-3.96.5 Taiwan9.68.54.9 (est.) Real GDP Growth Rates (USD-1990 Base) Data: UNCTAD Handbook of Statistics 2008

4. Elaborations: 1970-801980-902006 Major Petroleum Exporters: Developing 6.90.56.1 Non-Major Petroleum Exporters: Developing 5.44.57.3 Real GDP Growth Rates (USD-1990 Base Year) Data: UNCTAD Handbook of Statistics 2008

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