| There is great theoretical and practical significance to understand the effect of natural resources on economic development. The empirical stud ies conducted by existing literature mainly focus on the linear relationship between them, and there do exist serious disagreement on whether natural resource is curse or gospel of economic growth. Besides, with the economic development and changing situation in the world, the scarcity of resources will also constantly keep changing. Will the changing status of the resource dynamically affect economic growth?In this paper a new perspective is developed to explore the non- linear relationship between resources and economic growth. Referring to relevant literatures, a detailed theoretical carding was made. Then this thesis attempt to explore whether the changes in status will affect the relationship between resources and economic growth. Based on the panel data of 90 countries from 1972-2011, an empirical test is done, trying to find out the inverted U-shaped relationship between resource and economic growth.According to the empirical study of this paper, the following conclusions can be made: Resource endowments have a non- linear relationship with economic growth; If the resource abundance of a country reaches a certain extent, the resource will curse the economic growth; With the increasing status of natural resources, the mechanism of the curse will be enhanced and the resource course effect can be observed in more countries. |
