We criticize existing empirical results on the detrimental effects of natural resource dependence on the rate of economic growth after controlling for institutional quality, openness, and initial income. These results do not survive once we use instrumental variables techniques to correct for...

We offer new cross-country evidence on the natural resource curse. We investigate the impact of the interaction of natural resource abundance and policies on growth. We find that the resource curse is less severe in countries with less restrictive trade policies and good institutions. However,...

We criticise existing empirical results on the detrimental effects of natural resource dependence on the rate of economic growth after controlling for institutional quality, openness and initial income. These results do not survive once we use instrumental variables to correct for the endogenous...

This paper explores the effect of market orientation on (known) natural resource wealth using a novel dataset of world-wide major hydrocarbon and mineral discoveries. Consistent with the predictions of a two-region model, the empirical estimates based on a large panel of countries show that...