Chapter

Natural Resources, Human Capital, and Growth

Nancy Birdsall, Thomas Pinckney and Richard Sabot

in Resource Abundance and Economic Development

Published in print October 2004 | ISBN: 9780199275786
Published online April 2005 | e-ISBN: 9780191602160 | DOI: http://dx.doi.org/10.1093/0199275785.003.0004

Series: WIDER Studies in Development Economics

Natural Resources, Human Capital, and Growth

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This chapter examines the role of human capital investment in lowering the growth of resource-abundant countries. It is shown that resource abundance leads to high initial levels of income inequality, making it difficult to generate a virtuous circle of human capital accumulation and equitable growth. However, this virtuous circle is achievable if governments can resist the temptation to ignore the quality of schooling and pursue a capital intensive growth strategy.

Keywords: human capital investment; resource-abundant countries; economic development; income inequality

Chapter.  8279 words.  Illustrated.

Subjects: Economic Development and Growth

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