The pungent smell of "red herrings": Subsoil assets, rents, volatility and the resource curse

Journal of Environmental Economics and Management

Volumn 60, Issue 1, 2010, Pages 44-55

  van der Ploeg, Frederick ^a   Poelhekke, Steven ^b  

^a UNIVERSITY OF OXFORD   (United Kingdom)

^b DE NEDERLANDSCHE BANK   (Netherlands)

Author keywords

Instrumental Variables; Natural capital; Reserves; Resource curse; Resource exports; Resource rents; Subsoil assets; Volatility

Indexed keywords

ENDOGENEITY; GROWTH PROSPECTS; INSTRUMENTAL VARIABLES; MISSPECIFICATION; NATURAL CAPITAL; POSITIVE EFFECTS; RESOURCE ABUNDANCE; RESOURCE CURSE; RESOURCE RENTS; WORLD BANK;

SOILS;

INTERNATIONAL TRADE;

ECONOMIC GROWTH; NATURAL CAPITAL; RESOURCE ALLOCATION; RESOURCE USE; SUBSOIL; VIOLENCE; VOLATILIZATION; WORLD BANK;

CLUPEIDAE;

EID: 77954860819     PISSN: 00950696     EISSN: 10960449     Source Type: Journal    
DOI: 10.1016/j.jeem.2010.03.003     Document Type: Article

References (42)

1. Brunnschweiler C., Bulte E.H. The resource curse revisited and revised: a tale of paradoxes and red herrings. Journal of Environmental Economics and Management 2008, 55(3):248-264.
2. Brunnschweiler C., Bulte E.H. Linking natural resources to slow growth and more conflict. Science 2008, 320(5876):616-617.
3. Sachs J.D., Warner A.M. Natural resource abundance and economic growth. Leading Issues in Economic Development 1997, Oxford University Press, Oxford. G. Meier, J. Rauch (Eds.).
4. Mehlum H., Moene K., Torvik R. Institutions and the resource curse. Economic Journal 2006, 116(508):1-20.
5. Boschini A.D., Pettersson J., Roine J. Resource curse or not: a question of appropriability. Scandinavian Journal of Economics 2007, 109(3):593-617.
6. C., Brunnschweiler, E.H. Bulte, Natural resources and violent conflict: resource abundance, dependence, and the onset of civil wars, Oxford Economic Papers, 61 (4) 651-674.
7. Collier P., Hoeffler A. On economic causes of civil war. Oxford Economic Papers 1998, 50:563-573.
8. Collier P., Hoeffler A. Greed and grievance in civil wars. Oxford Economic Papers 2004, 56:563-593.
9. Collier P., Hoeffler A. Resource rents, governance, and conflict. Journal of Conflict Resolution 2005, 49:625-633.
10. Reynal-Querol M. Ethnicity, political systems, and civil wars. Journal of Conflict Resolution 2002, 46:29-54.
11. Ross M. What do we really know about natural resources and civil war?. Journal of Peace Research 2004, 41:337-356.
12. Ron Paradigm in distress: primary commodities and civil war. Journal of Conflict Resolution 2005, 49:443-450.
13. Fearon J. Primary commodities exports and civil war. Journal of Conflict Resolution 2005, 49:483-507.
14. World Bank, Where is the Wealth of Nations? Measuring Capital for the 21st Century, The World Bank, Washington, DC, 2006.
15. Ding N., Field B.C. Natural resource abundance and economic growth. Land Economics 2005, 81(3):496-502.
16. Alexeev M., Conrad R. The elusive curse of oil. Review of Economics and Statistics 2009, 91(3):586-598.
17. Norman Rule of law and the resource curse: abundance versus intensity. Environmental and Resource Economics 2009, 43(2):183-207.
18. Vincent J.R. Resource depletion and economic sustainability in Malaysia. Environment and Development Economics 1997, 2(1):19-37.
19. World Bank, Expanding the Measure of Wealth. Indicators of Environmentally Sustainable Development, The World Bank, Washington, DC, 1997.
20. World Bank, Malaysia: fiscal reform for stable growth, Report No. 10120-MA, Country Department I, East Asia and the Pacific Region, The World Bank, Washington, DC, 1992.
21. X., Sala-i-Martin, A. Subramanian. Addressing the natural resource curse: an illustration from Nigeria, NBER Working Paper No. 9804, NBER, Cambridge, MA, 2003.
22. Shea J. Instrument relevance in multivariate linear models: a simple measure. Review of Economics and Statistics 1997, 49(2):348-352.
23. Kleibergen F., Paap R. Generalized reduced rank tests using the singular value decomposition. Journal of Econometrics 2006, 133:97-126.
24. Stock J.H., Yogo M. Testing for weak instruments in linear IV regression. Identification and Inference for Econometric Models: Essays in Honor of Thomas Rothenberg 2005, 80-108. Cambridge University Press, Cambridge. D.W.K. Andrews, J.H. Stock (Eds.).
25. A., Heston, R., Summers, B., Aten, Penn World Table 6.2, Center for International Comparisons of Production, Income and Prices, University of Pennsylvania, Philadelphia, PA, 2006.
26. van der Ploeg F., Poelhekke S. Volatility and the natural resource curse. Oxford Economic Papers 2009, 61(4):727-760.
27. BP BP Statistical Review of World Energy 2009 2009, BP, London, UK.
28. Cragg J.G., Donald S.G. Testing identifiability and specification in instrumental variables models. Econometric Theory 1993, 9:222-240.
29. A., Heston, R., Summers, B., Aten, Penn World Table Version 6.1, Center for International Comparisons of Production, Income and Prices, University of Pennsylvania, Philadelphia, PA, 2002.
30. WRI World Resources Database 1996-97 2006, World Resources Institute, Washington, DC.
31. Hartwick J.M. Intergenerational equity and the investing of rents from exhaustible resources. American Economic Review 1977, 67(5):972-974.
32. Hartwick J.M. Natural resources, national accounting, and economic depreciation. Journal of Public Economics 1990, 43(3):291-304.
33. Hartwick J.M., Hagemann A. Economic depreciation of mineral stocks and the contribution of El Serafy. Toward Improved Accounting for the Environment 1993, The World Bank, Washington, DC. E. Lutz (Ed.).
34. Hoteling H. The economics of exhaustible resources. Journal of Political Economy 1931, 39:137-175.
35. La Porta R., Lopez-de-Silanes F., Shleifer A., Vishny R. The quality of government. Journal of Law and Economic Organization 1999, 15:222-278.
36. Beck T., Clarke G., Groff A., Keefer P., Walsh P. New tools in comparative political economy: the database of political institutions. World Bank Economic Review 2005, 15:165-176.
37. Persson T., Tabellini G. Constitutional rules and fiscal policy outcomes. American Economic Review 2004, 94:25-46.
38. D. Kaufmann, A. Kraay and M. Mastruzzi, Governance matters IV: governance indicators for 1996-2004, World Bank Policy Research Working Paper, No. 9424, 2005.
39. R.J. Barro, J.-W. Lee, International data on educational attainment: updates and implications, Working Paper No. 42, Centre for International Development, Harvard University, Cambridge, MA, 2000.
40. World Bank, World Development Indicators, World Bank, Washington, DC, 2006.
41. Political Risk Services Group, International Country Risk Guide, East Syracuse, NY, 2006
42. Wacziarg R., Welch K.H. Trade liberalization and growth: New evidence. The World Bank Economic Review 2008, 22(2):187-231.