Natural resources, national income, and economic growth in Africa

Research output: Contribution to journalArticlepeer-review

Abstract

Because standard measures of aggregate income such as gross domestic product (GDP) do not account for natural resource depletion, their use as gauges of economic performance tends to exaggerate the benefits of resource extraction. Accounting for natural resource depletion in 18 African countries indicates different patterns of growth than those suggested by GDP figures. Use of the revised measures in analyses of the link between exports and growth suggests that export expansion may generate increases in measured GDP without stimulating increased production. In contrast, real exchange rate alignment is correlated with growth in both conventional GDP and the revised accounts.

Original languageEnglish (US)
Pages (from-to)1507-1519
Number of pages13
JournalWorld Development
Volume23
Issue number9
DOIs
StatePublished - Sep 1995

ASJC Scopus subject areas

  • Geography, Planning and Development
  • Development
  • Sociology and Political Science
  • Economics and Econometrics

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