The Fallacy of the Natural Resource Curse? A Case Study of Angola and Botswana
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2009
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Haverford College. Department of Economics
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Thesis
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eng
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Haverford users only
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Abstract
This paper reexamines the natural resource curse hypothesis using two different proxies for natural resource abundance. The regression analysis with log of income per capita as the dependent variable yields ambiguous results, when controlling for the quality of a variety of institutions across countries. My results show no significant evidence of negative indirect effects of natural resources through the institutional channel. I present evidence suggesting that positive effects on income levels of natural resource abundant countries are augmented as institutions improve. This, combined with evidence from the experiences of Angola and Botswana, leads us to suggest that natural resources can be a boon if strong institutions are in place to properly disperse the fruits of such mineral wealth.