Acknowledgement
I would like to express my gratitude and adoration to my professor, [Professor Name]. His persistent struggle to impart learning in his students had motivated me to continue learning. Aside from him, I would also like to thank everyone who had not doubted me that I am capable of achieving excellence despite my flaws. You all make learning an enjoyable process that I will always wish to journey.
Abstract
In Konte’s (2013) work, he had studied the relationship between democratic levels or development regime of a country to the function that natural resources play. In his study, he noted that though there is an observable impact on economic boom and growth depending on the regime, there are other measures that must be looked at. The indirect impacts of natural resources should also be taken into account. Likewise, his study had proven to be conducted in a logical manner, but failed to provide more solid conclusions as a result of the limitations of his data.
Introduction
Natural resources may be thought of as a curse or a source for economic boom and growth. Konte’s work on the subject matter had been likewise recognized as many other researchers had directed their study on the same path as he did. Likewise, according to Natalia (2015), Konte emphasizes that democratic levels influence whether natural resources are good or bad for economic growth. Furthermore, this paper will focus on his work: “A Curse or a Blessing? Natural Resources in a Multiple Growth Regimes Analysis”.
A Curse or a Blessing? Natural Resources in a Multiple Growth Regimes Analysis (2013)
The journal article "A Curse or a Blessing? Natural Resources in a Multiple Growth Regimes Analysis" by Maty Konte is a literature that focuses on the amount of natural resources and its relative effect on economic boom and growth. Furthermore, the study wish to determine if the natural resources may be considered as a curse or a blessing depending on the growth regime to which the economy belongs. This is relevant since by knowing the answer to the research problem, the appropriate changes to the current regime may be done.
The research by Konte had reached a specific conclusion. That is, whether a country rich with natural resources would experience economic boom and growth is dependent on other factors. These factors include the democracy or the freedom of the people in the country to exercise economic independence. Meanwhile, Konte noted that the education levels nor the economic institutions present in a country has little or no effect on the matter.
The method that he employed are logical. However, the study only examines the most obvious and direct impacts of natural resources with economic growth. There are many other indirect mechanisms by which natural resources may influence economic growth. Though the study had reached a conclusion in an orderly manner, the relationship of his variables as well as their measure has been simplified. In the measure of the education levels in countries, for example, his method to quantify it has barely scratched the surface.
References
Konte, M. (2013). A Curse or a Blessing? Natural Resources In a Multiple Growth Regimes Analysis. Applied Economics, 45(1), 3760-3769.
Natalia, I. (2015). The impact of mineral resources on economic growth. International Journal of Arts and Commerce, 4(6), 100-110.
