Natural resources, export structure and investment.
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
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- Centre for the Study of African Economies Publisher's website
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- Stephen R Bond and Adeel Malik
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- Copyright © 2008 Stephen R. Bond and Adeel Malik. Published as part of the CSAE Working Paper Series.
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