Natural resource dependence and the accumulation of physical and human capital in Latin America

Luisa Blanco, Robin Grier

Research output: Contribution to journalArticlepeer-review

35 Scopus citations

Abstract

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 find that petroleum export dependence has a significant positive direct effect on physical capital, but a significant negative direct effect on human capital. Agricultural export dependence shows a significant negative direct effect on physical capital. Petroleum exports have a long run positive effect on physical capital but a negative long run effect on human capital. Agricultural exports have a negative long run effect on physical and human capital.

Original languageEnglish
Pages (from-to)281-295
Number of pages15
JournalResources Policy
Volume37
Issue number3
DOIs
StatePublished - Sep 2012

Keywords

  • Human capital
  • Latin America
  • Natural resources
  • Physical capital
  • Resource curse

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