Resource Curse or Blessing?: A panel data Analysis
Author: Abdul Hannan

Natural resources are very important for the development of any country and Sachs and Warner (1995)‟ empirical studies initiated a new debate in the field of economics that countries where natural resources are in abundance grow slower than the counties which are resource deficient this is called resource curse hypothesis. The objective of this study is to see whether the natural resources are blessings or curse? And to see whether the natural resource are itself bad or not? and what are possible channels of resource curse. For this purpose, study has used the panel data technique as most of the resource curse studies are based on the cross sectional data. This study has used different types of natural resource rents to measure natural resource abundance as previous resource cruse studies have employed the primary products exports as a measure of resource abundance which is criticized by some scholars. Results indicated that natural resource itself does not harm the economic growth directly in large sample of 170 countries for sample period 1991 to 2011 but corruption could be one possible channel through which it can effect economic growth. Corruption found main channel of resource curse and particularly South Asian economies are cursed with pathetic and low quality institutions, as compared to than other regions of the world. Moreover, no resource curse is found in the top 40 oil reserve countries. Supervised by: Dr. Hasan M. Mohsin

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Keywords : Economic Indicators, Natural Resource, Natural Resource Distribution, Natural Resource-Muslim Countires, Natural Resource-Regional Comparison, Natural Resources-Non-Muslim Countries, World Economic Situation
Supervisor: Hassan Muhammad Mohsin

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