1st International Conference on Economics, Finance and Management Outlooks 20-21 December, 2013 Pearl International Hotel, Kuala Lumpur, Malaysia

1. Abstract of Economics, Finance and Management Outlooks, 2013, Vol.1
DOI: 10.18488/journal.1003/2013.1/1003.1
1st International Conference on Economics, Finance
and Management Outlooks
20-21 December, 2013
Pearl International Hotel, Kuala Lumpur, Malaysia
Conference Website: www.pakrdw.com
5
Are Resource Abundant Countries Afflicted By The Resource
Curse?
Shahida Wizarat1
1
Director Research, Chief Editor Pakistan Business Review & HOD Economics, Institute of Business
Management (IOBM), Karachi, Pakistan
Abstract
We find evidence for the ‘resource curse’ phenomenon for the decade of the 1980s
only, as revealed by higher average annual rate of GDP growth for the resource scarce
countries as compared with the top oil and gas exporting countries and ore and mineral
rich countries. The low growth rate prediction of the resource curse literature is refuted
as the average annual rate of growth of ore and mineral rich countries is higher, while
that of the top oil and gas exporting countries much higher as compared with the
resource scarce countries for the 1990 and 2000 decades.
Keywords: Resource curse, Dutch disease, Global GDP growth rates, Resource rich countries, Resource
scarce countries.
JEL Classification: O47; Q34; Y10.