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Natural Resources and Welfare: A Study of U.S. States

Natural Resources and Welfare: A Study of U.S. States

Leslie Dunn, Robert Dunn
Copyright: © 2014 |Pages: 27
ISBN13: 9781466643291|ISBN10: 1466643293|EISBN13: 9781466643307
DOI: 10.4018/978-1-4666-4329-1.ch014
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MLA

Dunn, Leslie, and Robert Dunn. "Natural Resources and Welfare: A Study of U.S. States." Econometric Methods for Analyzing Economic Development, edited by Peter V. Schaeffer and Eugene Kouassi, IGI Global, 2014, pp. 235-261. https://doi.org/10.4018/978-1-4666-4329-1.ch014

APA

Dunn, L. & Dunn, R. (2014). Natural Resources and Welfare: A Study of U.S. States. In P. Schaeffer & E. Kouassi (Eds.), Econometric Methods for Analyzing Economic Development (pp. 235-261). IGI Global. https://doi.org/10.4018/978-1-4666-4329-1.ch014

Chicago

Dunn, Leslie, and Robert Dunn. "Natural Resources and Welfare: A Study of U.S. States." In Econometric Methods for Analyzing Economic Development, edited by Peter V. Schaeffer and Eugene Kouassi, 235-261. Hershey, PA: IGI Global, 2014. https://doi.org/10.4018/978-1-4666-4329-1.ch014

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Abstract

This chapter examines the link between natural resource intensity and welfare for U.S. states from 1980 through 2009. Previous literature has examined the relationship between resource abundance and economic growth and, ultimately, the existence of a resource curse. The vast majority of these studies have utilized international data sets and focused strictly on economic growth. This chapter utilizes a sub-national data set of U.S. states and focuses on the impact of resources on welfare and development as measured by seven indicators. The findings show a negative relationship between natural resource intensity and welfare. After disaggregating resources into point or diffuse sources, it is found that point resources are likely to be more detrimental to welfare. Two prominent transmission channels of the resource curse, education and rent seeking, are examined and are found to have significant relationships with resource intensity. Finally, Seemingly Unrelated Regression (SUR) estimation is used to explicitly identify the direct and indirect effects of resources on welfare.

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