The Impact of Resource Abundance and Resource Inequality on Capital Accumulation in Latin America

摘要: We study the impact of natural resource abundance and inequality on capital accumulation in a simultaneous model physical human for sample 18 Latin American countries from 1970-2004. find that are jointly determined, has positive significant effect vice versa. show long run is positive, while its essentially zero. also both forms non-linear statistically significant, but quantitatively small. For country with level equal to average, any further increases will increase stock lower capital. These results robust different specifications measures inequality.