Exorcizing the Resource Curse: Minerals as a Knowledge Industry, Past and Present
July 2002 <p> Recent literature argues that natural resource abundance is likely to be bad for economic growth. This paper provides a counterargument by highlighting examples of successful resource-based development. The first is historical: the United States from the mid-nineteenth century to the mid-twentieth. We show that U.S. mineral abundance was an endogenous historical phenomenon driven by collective learning, increasing returns, and an accommodating legal environment. Recent instances of successful resource-based growth affirm that so-called “nonrenewable” resources can be progressively extended through exploration, technological progress, and investments in appropriate knowledge. Indeed, minerals constitute a high-tech knowledge industry in many countries. <p> Working Papers Index
Year of publication: |
2002-07
|
---|---|
Authors: | Wright, Gavin ; Czelusta, Jesse |
Institutions: | Department of Economics, Stanford University |
Saved in:
freely available
Saved in favorites
Similar items by person
-
Slavery and American Agricultural History
Wright, Gavin,
-
Wright, Gavin,
-
Can a Nation Learn? American Technology as a Network Phenomenon
Wright, Gavin, (1997)
- More ...