Article
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Economic Diversity and the Resource Curse: A Dynamic Panel Model
Version 1
: Received: 13 April 2018 / Approved: 13 April 2018 / Online: 13 April 2018 (14:18:36 CEST)
How to cite: Olayele, F.; Soo, K. Economic Diversity and the Resource Curse: A Dynamic Panel Model. Preprints 2018, 2018040179. https://doi.org/10.20944/preprints201804.0179.v1 Olayele, F.; Soo, K. Economic Diversity and the Resource Curse: A Dynamic Panel Model. Preprints 2018, 2018040179. https://doi.org/10.20944/preprints201804.0179.v1
Abstract
This paper contributes to the debate on the impact of economic diversity and the resource curse on economic growth. We use dynamic panel data models on data on Canadian and US sub-national jurisdictions. We find evidence for a positive relationship between diversity and growth. Based on the Krugman Specialization Index, our analysis shows that the required threshold for not having the resource curse is 0.209. Above this threshold, the marginal contribution of natural resources to economic growth is lower for a more diversified regional economy than a less diversified one. We highlight the policy implications of these findings.
Keywords
Diversity; resource curse; economic growth.
Subject
Business, Economics and Management, Economics
Copyright: This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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