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date: 26 November 2020

Abstract and Keywords

This chapter argues against a natural resource curse not only with respect to GDP growth but most importantly for other dimensions of human development. It shows that changes of human development from 1970 to 2005, proxied by changes in the Human Development Index, are positively and significantly correlated with natural resource abundance. The chapter also takes a close look at the Latin American case. The second section presents a literature review of the effect of natural resources on development: the theoretical arguments, different channels of impact, and why natural resources might not be a curse after all. The third section presents the data and empirical methodology. The fourth section discusses the results, which find natural resources to be positively correlated with human development.

Keywords: human development, natural resources, Human Development Index, Latin America, GDP growth

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