The neoclassical models of economics seem to have eluded the concept of physical limits to growth by assuming that the market and the technological advances evoked by it will make it possible to tap new resources and create substitution of production factors. They have also rarely addressed...

The goal of this study was to investigate whether natural resource dependence affects per capita growth through the financial system. A well-developed financial system provides better access to credit which is essential to economic growth. Therefore, if natural resource dependence hinders...

Neoclassical economics seems to have ignored the concept of physical limits to growth by assuming that the market and the technological advances invoked by it will make it possible to tap new resources and create substitution of production factors, while it has outright excluded limitations...

Institutional quality has both short-term and long-term impacts on economic growth. Its short-term impact comes from the quality of institutions ex ante while its long-term impact comes from the quality of institutions ex post. Ex post institutions are shaped by the direct impact of resource...

This paper revisits the original natural resource curse study conducted by Sachs and Warner to investigate the relationship between natural resource dependence and per capita growth in recent data consisting of 68 developing countries that includes 14 Middle East & North Africa (MENA) and 6 Gulf...