Resource curse versus resource blessing: New evidence from resource capital data

This study aims to investigate the association between natural capital and economic development using panel data comprising a large number of countries across world for period 1995–2018. The accounts several key drivers development, such as produced capital, human trade institutional quality indicators. Our findings demonstrate that effect flowing from performance is sizable positive. indicators control corruption, rule law government effectiveness play an important role in driving growth positively. Overall, we reject resource curse hypothesis support blessing hypothesis. evidence also shows combined institutions resources not crucial factor determining growth. These results are fairly consistent both developing developed economies. offers policy implications adds new dimension empirical literature on nexus abundance by wealth data.