Does matter natural resources in determining economic growth? Empirical evidence for countries by their level of development: Ecuador, Chile and Canada

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Published: jul. 14, 2017
Keywords:
Natural resources, Economic growth, Ecuador, Chile, Canada

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Joseph Cruz
Universidad Nacional de Loja
Christian González
Universidad Nacional de Loja
Jimmy Erraes
Universidad Nacional de Loja

Abstract

The objective of this research is to examine the effect of natural resources on the economic growth rate in Ecuador, Chile and Canada, respectively. We use data from the World Development Indicators developed by the World Bank. The dependent variable is economic growth and the independent variable is the total income of natural resources. In addition, we used three additional control variables that capture the structural characteristics of the countries analyzed. The results show that Ecuador’s economic growth is more dependent on natural resources, while Canada’s economic growth is the country with the lowest dependence on natural resources. An economic policy implication based on this study for the case of Ecuador is based on the change of the productive matrix that the government has proposed, which would reduce the great dependence on natural resources.

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How to Cite
Cruz, J., González, C., & Erraes, J. (2017). Does matter natural resources in determining economic growth? Empirical evidence for countries by their level of development: Ecuador, Chile and Canada. Revista Económica, 2(1), 77–85. Retrieved from https://revistas.unl.edu.ec/index.php/economica/article/view/214
Issue
Vol. 2 No. 1 (2017)
Section
RESEARCH ARTICLES

Esta obra está sujeta a la licencia Reconocimiento-NoComercial-SinObraDerivada 4.0 Internacional de Creative
Commons. Para ver una copia de esta licencia, visite http://creativecommons.org/licenses/by-nc-nd/4.0/.

Author Biographies

Joseph Cruz, Universidad Nacional de Loja

Carrera de Economía Universidad Nacional de Loja, Loja Ecuador

Christian González, Universidad Nacional de Loja

Carrera de Economía Universidad Nacional de Loja, Loja Ecuador

Jimmy Erraes, Universidad Nacional de Loja

Carrera de Economía Universidad Nacional de Loja, Loja Ecuador

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