The role of governance and infrastructure in moderating the effect of resource rents on economic growth

This study investigates how governance and infrastructure moderate the effect of natural resource rents on economic growth using a sample of 110 countries from 2000 to 2018. The empirical evidence is based on panel smooth transition regressions (PSTR). The nexus between economic growth and natural resources is not linear and the underlying non‐linearity is contingent on existing infrastructural and governance levels. Evidence of a “natural resource curse” is apparent in countries with extremely low levels of governance and infrastructural development. The favorable effect of natural resources on economic growth requires a governance threshold of −1.210 and an infrastructure threshold of 2.583, indicating that countries with governance and infrastructure levels higher than these values tend to benefit much more from the wealth of natural resources. Countries identified below the established thresholds are mainly from Africa. Policy implications are discussed with specific emphasis on African countries. Related Articles Ali, Hamid E., and Shahjahan Bhuiyan. 2022. “Governance, Natural Resources Rent, and Infrastructure Development: Evidence from the Middle East and North Africa.” Politics & Policy 50(2): 408–40. https://doi.org/10.1111/polp.12451. Asiegbu, Martin F., Okey Marcellus Ikeanyibe, Pius Otu Abang, Okwudili Chukwuma Nwosu, and Chuka Eugene Ugwu. 2024. “Natural Resource Fund Governance and the Institutionalization of Rent Seeking in Nigeria's Oil Sector.” Politics & Policy 52(1): 169–95. https://doi.org/10.1111/polp.12579. Ikeanyibe, Okechukwu M. 2018. “Bureaucratic Politics and the Implementation of Liberalization Reforms in Nigeria: A Study of the Unbundling and Reorganization of the Nigerian National Petroleum Corporation.” Politics & Policy 46(2): 263–94. https://doi.org/10.1111/polp.12249. 治理和基础设施在“调节资源租金对经济增长的影响”一事中的作用 本研究以2000年至2018年间110个国家为样本，研究了治理和基础设施如何调节自然资源租金对经济增长的影响。实证证据基于面板平滑过渡回归(PSTR)。经济增长与自然资源之间的复杂关系不是线性的，并且潜在的非线性取决于现有的基础设施水平和治理水平。在治理和基础设施发展水平极低的国家，“自然资源诅咒”的证据显而易见。自然资源对经济增长的有利影响需要治理阈值为‐1.210、基础设施阈值为2.583，这表明治理和基础设施水平高于这些值的国家往往会从自然资源财富中受益更多。低于既定阈值的国家主要来自非洲。探讨了对非洲国家的政策启示。 El papel de la gobernanza y la infraestructura en la moderación del efecto de las rentas de los recursos sobre el crecimiento económico Este estudio investiga cómo la gobernanza y la infraestructura moderan el efecto de las rentas de los recursos naturales en el crecimiento económico utilizando una muestra de 110 países entre 2000 y 2018. La evidencia empírica se basa