Energy Endowments and Economic Growth

32 Pages Posted: 7 Jul 2019 Last revised: 13 Sep 2019

See all articles by Matthew Oliver

Matthew Oliver

affiliation not provided to SSRN

Gregory Upton

Louisiana State University, Baton Rouge

Date Written: July 1, 2019

Abstract

This paper examines the relationship between fossil fuel endowments and economic growth rates. We find that countries with plausibly exogenous fossil fuel endowments exhibit higher economic growth rates and convergence towards development, as indicated by standard β- and σ-convergence tests. By contrast, when we restrict the sample to countries without fossil fuel endowments we find no evidence of convergence. Results suggest that fossil fuel endowments are generally beneficial for long-run economic growth. However, significant heterogeneity exists across countries, particularly for initially low-income countries.

Suggested Citation

Oliver, Matthew and Upton, Gregory, Energy Endowments and Economic Growth (July 1, 2019). USAEE Working Paper No. 19-414, 2019. Available at SSRN: https://ssrn.com/abstract=3414528 or http://dx.doi.org/10.2139/ssrn.3414528

Matthew Oliver

affiliation not provided to SSRN

Gregory Upton (Contact Author)

Louisiana State University, Baton Rouge ( email )

Baton Rouge, LA 70803
United States

Register to save articles to
your library

Register

Paper statistics

Downloads
36
Abstract Views
383
PlumX Metrics