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The long term consequences of resource-based specialisation

By Guy Michaels

Abstract

Using geological variation in oil abundance in the Southern US, I examine the long term effects of resource-based specialisation through economic channels. In 1890 oil abundant counties were similar to other nearby counties but after oil was discovered they began to specialise in its production. From 1940-90 oil abundance increased local employment per square kilometre especially in mining but also in manufacturing. Oil abundant counties had higher population growth, higher per capita income and better infrastructure. © 2010 The Author(s). The Economic Journal © 2010 Royal Economic Society

Topics: HD100 Land Use
Publisher: Wiley-Blackwell
Year: 2011
DOI identifier: 10.1111/j.1468-0297.2010.02402.x
OAI identifier: oai:eprints.lse.ac.uk:30120
Provided by: LSE Research Online
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