The convergence in per capita natural resources in the perspective of resource curse

Abstract

Natural resources, the primary motivation behind contemporary production, are very important for the economic development of an economy to foster financial activity. The resource curse for various countries or regions exists objectively. It has an inherent economic logic lying in resource dependence, and important policy implications exist for governments that find a way to break the resource curse and pursue sustainable economic growth. In this study, according to panel data analysis, we investigate the convergence in per capita natural resources from the perspective of resource curse across international countries/regions, and further cluster the convergent countries and regions and explore their rules. The empirical results verify the existence of convergence and the strong correlation between economic growth and geographic distribution. The estimation results indicate that natural resources affect economic growth to some extent. This study expands the existing research on the resource curse and provides the scientific basis for the policy implications of natural resources.