Natural resources, export structure and investment.

Journal article

We present cross-country empirical evidence on the role of natural resources in explaining long-run differences in private investment as a share of GDP in a sample of 72 developing countries. Our empirical results suggest important differences between oil and non-oil resources. While revenue from oil exports tends to increase private (and public) investment, there is also a robust negative effect from a measure of export concentration. After controlling for these two aspects of export structu...

Expand abstract

Authors: Bond, S; Malik, A

• Journal: Oxford Economic Papers
• Volume: 61
• Issue: 4
• Pages: 675 - 702
• Publication date: 2009-01-01
• DOI: 10.1093/oep/gpp025
• ISSN: 0030-7653
• Language: English