Iranian Journal of Economic Research

Natural Resource Abundant, Human Capital and Economic Growth in Petroleum Exporting Countries (Text in Persian)

Authors

Davood Behboodi 1
Hossien Asgharpour 2
Siab Mamipour 3

1 Assistant Professor of Economics, University of Tabriz

2 Associate Professor of Economics, Faculty of Economics, Management and Business, University of Tabriz

3 PhD student in Economics, Tabriz University

Abstract
Growth literatures indicates that human capital، education and technologicaly progress are effective factors on economic growth. Empirical studies present that natural resource abundance have an important role on economic growth in natural-resource-rich countries. This studyessaystudy essay investigates the relationship between natural resource abundance، human capital and economic growth in two cases of petroleum exporters' countries: A) Major petroleum exporters B) Other petroleum exporters. We use a panel data for The model of this paper is tested by panel data for the period 1970-2004. The results output of models indicate that physical investment and openness have positive impact on economic growth، and resource abundant and government expenditure ae inversely related with economic growth.، but hHuman capital hasve a different impact inin the two cases sample of paper; so that human capital have It has a negative impact on economic growth in the first case (A)، but while it has a positive impact on economic growth in the second case (B). So، We can conclude that human capital can be main factor to explain slow growth in resource-rich countries. Abundant of natural resource in this countries and bad usage of natural resource can be cause of negative relationship between human capital and economic growth. In other hands، Ccountries that are rich in mineral and oil resources neglect the developing of their human resources by devoting inadequate attention and expenditure to education. So these countries have lower growth rate with respect to others.

Keywords

Economic Growth
NaturalResource Abundant
Human Capital
Panel dData
Petroleum ExportingCountries

  • Receive Date 01 May 2016
  • First Publish Date 01 May 2016

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