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- Title
Human Capital and Non-Renewable Natural Resources in Latin America and the Caribbean: 'Is It a Curse or a Blessing'?
- Authors
Le Clech, Néstor; Guevara-Pérez, Juan Carlos; Urdaneta-Camacho, R.
- Abstract
This study examines the role of non-renewable natural resources in the accumulation of human capital in a sample of eighteen Latin American and Caribbean countries from 1995 to 2018. We assess the influence of non-renewable resources through six distinct variables and employ panel data co-integration techniques (PMG-ARDL). Our findings reveal a positive long-run effect, whether measured by abundance or dependence indicators. Even in cases where negative short-run effects are observed, the positive impact is consistent in the long term. Furthermore, physical capital stock, institution quality, and a more open economy are the most important drivers of human capital accumulation in the region. Although the long-run effect of non-renewable natural resources on human capital was positive, the estimated elasticities account for a relatively low effect. Consequently, even in the absence of the 'curse' effect, we do not deem it appropriate to consider these results as a blessing.
- Subjects
CARIBBEAN; NONRENEWABLE natural resources; HUMAN capital; BLESSING &; cursing; NATURAL capital; RENEWABLE natural resources; CAPITAL stock
- Publication
Sustainability (2071-1050), 2023, Vol 15, Issue 15, p11875
- ISSN
2071-1050
- Publication type
Article
- DOI
10.3390/su151511875