The paper contributes to the ongoing debate on the natural resource curse, which postulates a negative link between natural resource abundance and economic growth. It shows empirically that resource-rich countries appear to have a less developed financial system and investigates a potential...

The paper contributes to the ongoing debate on the natural resource curse, which refers to a negative link between natural resource abundance and economic growth. It shows empirically that resource-rich countries appear to have a less developed financial system and investigates a potential...

Recent studies indicate that the natural resource curse, that is, the negative link between resource abundance and growth, may operate through a country’s financial system. Scholars show that resource-abundant economies suffer from lower financial development, which may indirectly affect...

The need to absorb windfalls gains and manage them appropriately has been discussed extensively by academics and policy makers alike. We explore the role of the financial sector in intermediating these windfalls. Controlling for the level of financial development, inflation, GDP growth and...

The need to absorb windfalls gains and manage them appropriately has been discussed extensively by academics and policy makers alike. We explore the role of the financial sector in intermediating these windfalls. Controlling for the level of financial development, inflation, GDP growth and...

This paper examines the growth experience of the Central Asian economies after the breakup of the Soviet Union. In particular, it evaluates the impact of being landlocked and resource rich. The main conclusions are: (1) Over the period 1994-2006, the landlocked resource-scarce developing...

This paper discusses the development of four production sectors of the economies in Southeast Asia since the end of the Second World War: agriculture, non-renewable natural resources, manufacturing, and services. First, although Southeast Asia has experienced sectoral transformation toward...

This paper examines the growth experience of the Central Asian economies after the breakup of the Soviet Union. In particular, it evaluates the impact of being landlocked and resource rich. The main conclusions are: (1) Over the period 1994–2006, the landlocked resourcescarce developing...

In a simultaneous model of human and physical capital accumulation for 17 Latin American countries from 1975 to 2004, we show that overall resource dependence has no significant direct effect on physical and human capital. When disaggregating the natural resource variable into sub-categories, we...

This paper contributes to the literature concerning the natural resource curse by exploring the role of banking development in reducing the resource curse in a natural resource-based country, Yemen. Using time series data over the period 1980–2012, we find that natural resource dependence is...