Analysis of the Relation between Institutional Quality, Natural Resources and Economic Growth
DOI:
https://doi.org/10.35319/lajed.201014355Keywords:
Natural Resources, Bolivia, Institutional Frame, Economic Growth, Production, Gobernance Indicators, ExportAbstract
For a long time there has been a belief that countries with great reserves of natural resources have a great advantage respect to countries with limited natural resources. Nevertheless the present study shows that this abundance and the increasing export of the natural resources does not entail necessarily to an economic growth of “the surpassed” country, instead the abundance would have to be accompanied of an institutional frame of good quality that encourages the interchange and the production in detriment of redistributive activities.
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