59
Table 1: Effects of resource dependence and institutional quality on economic growth
|
Annual growth in real |
Sachs and Warner |
Based on data in |
Mehlum, Moene and |
|
Initial income___________ |
-1.76 (8.56) |
-1.28 (6.65) |
-1.26 (6.70) |
|
Openness____________ |
1.33 (3.35)____________ |
1.45 (3.36)_________ |
1.66 (3.87)____________ |
|
Resource dependence |
-10.57 (7.01)_________ |
-6.69 (5.43) |
-14.34 (4.21)__________ |
|
Rule of law___________ |
0.36 (3.54)____________ |
- |
- |
|
Institutional quality |
- |
0.6 (0.64) |
-1.3 (1.13) |
|
Investments___________ |
1.02 (3.45) |
0.15 (6.73)_________ |
0.16 (7.15)____________ |
|
Interaction term________ |
- |
- |
15.40 (2.40)___________ |
|
Number of countries |
71 |
87 |
87__________________ |
|
Adjusted R2__________ |
0.72_________________ |
0.69_______________ |
0.71___________________ |
Table 2: Marginal effects of different resources on growth for varying institutional quality
|
Primary exports |
Ores and metals |
Mineral |
Production of | |
|
Worst |
-0.548 |
-0.946 |
-1.127 |
-1.145 |
|
Average |
-0.378 |
0.425 |
0.304 |
0.279 |
|
Average + one |
-0.288 |
1.152 |
1.062 |
1.183 |
|
Best institutions |
-0.228 |
1.629 |
1.560 |
1.776 |
Note: Institutional quality is an average of the indexes for bureaucracy, corruption, rule of law,
risk of expropriation of private investment and repudiation of contracts by government.
Source: Boschini, et. al. (2007)
Table 3: Total, natural, produced and intangible capital, 2000
— $ per capita and percentage shares —
|
Income |
Natural |
Produced |
Intangible |
Total |
Natural |
Produced |
Intangible |
|
Low-income |
1,925 |
1,174 |
4,434 |
7,532 |
26% |
16% |
59% |
|
Middle- |
3,496 |
5,347 |
18,773 |
27,616 |
13% |
19% |
68% |
|
High-income |
9,531 |
76,193 |
353,339 |
439,063 |
2% |
17% |
80% |
|
World |
4,011 |
16,850 |
74,998 |
95,860 |
4% |
18% |
78% |
Note: All dollars at nominal exchange rates. Oil states excluded.
Source: World Bank (2006, Table 2.1)